CSX Corporation $CSX Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its position in shares of CSX Corporation (NASDAQ:CSX) by 159.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,410 shares of the transportation company’s stock after purchasing an additional 45,116 shares during the period. Farther Finance Advisors LLC’s holdings in CSX were worth $2,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC increased its stake in shares of CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after buying an additional 586 shares during the last quarter. WFA of San Diego LLC bought a new position in shares of CSX during the second quarter worth about $28,000. Pinnacle Bancorp Inc. increased its stake in shares of CSX by 121.5% in the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 729 shares during the period. Aventura Private Wealth LLC acquired a new stake in CSX in the 4th quarter valued at approximately $63,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of CSX during the third quarter valued at about $67,000. Institutional investors own 73.57% of the company’s stock.

Insider Buying and Selling

In related news, CAO Diana B. Sorfleet sold 90,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the transaction, the chief accounting officer owned 165,613 shares of the company’s stock, valued at $6,882,876.28. This represents a 35.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Fortune sold 31,456 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the completion of the transaction, the executive vice president directly owned 82,034 shares of the company’s stock, valued at approximately $3,170,614.10. The trade was a 27.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 188,123 shares of company stock valued at $7,454,854 over the last quarter. Corporate insiders own 0.30% of the company’s stock.

CSX Stock Up 1.4%

CSX opened at $43.32 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $80.61 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.38 and a beta of 1.25. The business has a 50 day moving average of $41.09 and a 200-day moving average of $37.86. CSX Corporation has a 1-year low of $27.00 and a 1-year high of $43.61.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). CSX had a return on equity of 23.88% and a net margin of 20.50%.The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $0.14 dividend. This is a boost from CSX’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.56 annualized dividend and a yield of 1.3%. CSX’s payout ratio is presently 36.36%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BMO Capital Markets dropped their target price on CSX from $41.00 to $40.00 and set a “market perform” rating on the stock in a report on Thursday, April 2nd. Evercore downgraded shares of CSX from an “outperform” rating to an “in-line” rating and set a $41.00 target price on the stock. in a research report on Thursday, March 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of CSX in a research note on Monday, December 29th. Stephens lifted their target price on shares of CSX from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. Finally, Jefferies Financial Group lifted their price target on CSX from $42.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Sixteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.