Farther Finance Advisors LLC Buys 518 Shares of CSX Co. (NASDAQ:CSX)

Farther Finance Advisors LLC grew its stake in shares of CSX Co. (NASDAQ:CSX) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,772 shares of the transportation company’s stock after buying an additional 518 shares during the quarter. Farther Finance Advisors LLC’s holdings in CSX were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSX. EverSource Wealth Advisors LLC grew its stake in shares of CSX by 16.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 12,196 shares of the transportation company’s stock worth $394,000 after purchasing an additional 1,705 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of CSX by 10.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 126,446 shares of the transportation company’s stock worth $4,080,000 after purchasing an additional 11,923 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of CSX by 98.8% in the fourth quarter. HighTower Advisors LLC now owns 1,628,542 shares of the transportation company’s stock worth $52,553,000 after purchasing an additional 809,238 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of CSX by 0.6% in the fourth quarter. Moors & Cabot Inc. now owns 74,115 shares of the transportation company’s stock worth $2,392,000 after purchasing an additional 472 shares during the last quarter. Finally, River Road Asset Management LLC bought a new stake in shares of CSX in the fourth quarter worth about $46,861,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of CSX opened at $30.26 on Wednesday. The company has a market capitalization of $57.33 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a 50 day moving average of $32.16 and a 200 day moving average of $33.44. CSX Co. has a twelve month low of $28.98 and a twelve month high of $38.03.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSX. Wells Fargo & Company cut their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Citigroup lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Susquehanna lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Robert W. Baird lowered their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of CSX in a report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.