Raymond James & Associates Has $67.13 Million Position in CSX Co. (NASDAQ:CSX)

Raymond James & Associates boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 7.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,810,990 shares of the transportation company’s stock after purchasing an additional 128,941 shares during the period. Raymond James & Associates owned about 0.09% of CSX worth $67,133,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in CSX in the fourth quarter worth $757,276,000. Price T Rowe Associates Inc. MD boosted its stake in shares of CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after acquiring an additional 9,914,656 shares in the last quarter. Capital International Investors increased its holdings in shares of CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of CSX by 416.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock valued at $155,912,000 after acquiring an additional 4,089,150 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of CSX by 10.4% in the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after acquiring an additional 2,748,738 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 0.8 %

CSX stock traded up $0.28 during midday trading on Friday, reaching $33.85. The stock had a trading volume of 6,618,097 shares, compared to its average volume of 14,806,096. The firm has a market cap of $66.17 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.01 and a beta of 1.19. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $36.23 and a two-hundred day simple moving average of $34.54.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the business earned $0.48 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts expect that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is presently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of several research analyst reports. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. UBS Group lowered their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Raymond James boosted their target price on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Bank of America reduced their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.00.

CSX Profile

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.