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

Raymond James & Associates increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 7.7% in the 1st quarter, HoldingsChannel reports. The firm owned 1,810,990 shares of the transportation company’s stock after acquiring an additional 128,941 shares during the period. Raymond James & Associates’ holdings in CSX were worth $67,133,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CSX. Fortitude Family Office LLC acquired a new position in shares of CSX during the fourth quarter valued at about $27,000. Life Planning Partners Inc acquired a new position in CSX during the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX in the first quarter worth approximately $29,000. Venturi Wealth Management LLC grew its stake in CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 692 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $34,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CSX shares. BMO Capital Markets lifted their price target on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group reduced their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Stifel Nicolaus upped their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada lowered their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Stock Performance

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 capitalization of $66.17 billion, a PE ratio of 18.60, a P/E/G ratio of 2.01 and a beta of 1.19. CSX Co. has a 12 month low of $29.03 and a 12 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 firm’s 50-day moving average price is $36.23 and its 200 day moving average price is $34.54.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating 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 company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the business earned $0.48 earnings per share. CSX’s revenue was down .8% compared to the same quarter last year. As a group, research analysts predict that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

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

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.