Bleakley Financial Group LLC Grows Stake in CSX Corporation (NASDAQ:CSX)

Bleakley Financial Group LLC grew its holdings in CSX Corporation (NASDAQ:CSX) by 18.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 81,483 shares of the transportation company’s stock after acquiring an additional 12,438 shares during the quarter. Bleakley Financial Group LLC’s holdings in CSX were worth $2,398,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 849 shares during the period. Proficio Capital Partners LLC boosted its position in shares of CSX by 20.9% in the 4th quarter. Proficio Capital Partners LLC now owns 18,257 shares of the transportation company’s stock valued at $589,000 after purchasing an additional 3,159 shares during the period. Farther Finance Advisors LLC lifted its position in CSX by 6.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,772 shares of the transportation company’s stock worth $283,000 after acquiring an additional 518 shares during the period. Catalyst Funds Management Pty Ltd lifted its position in CSX by 154.5% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 8,400 shares of the transportation company’s stock worth $271,000 after acquiring an additional 5,100 shares during the period. Finally, Natixis Advisors LLC lifted its position in CSX by 37.6% during the 4th quarter. Natixis Advisors LLC now owns 908,178 shares of the transportation company’s stock worth $29,307,000 after acquiring an additional 248,220 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CSX shares. Evercore ISI decreased their price objective on CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Citigroup increased their price objective on CSX from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Baird R W raised CSX to a “strong-buy” rating in a research report on Tuesday, July 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada reduced their price target on CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a report on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.64.

CSX Stock Performance

NASDAQ CSX opened at $33.98 on Tuesday. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The stock has a market cap of $63.83 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 3.05 and a beta of 1.23. The business has a fifty day moving average of $31.84 and a 200-day moving average of $31.10. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. As a group, analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, May 30th. CSX’s dividend payout ratio is presently 31.14%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.