Cetera Investment Advisers Grows Position in CSX Co. (NASDAQ:CSX)

Cetera Investment Advisers grew its holdings in CSX Co. (NASDAQ:CSX) by 239.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,668 shares of the transportation company’s stock after acquiring an additional 255,271 shares during the period. Cetera Investment Advisers’ holdings in CSX were worth $13,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. PGGM Investments lifted its position in shares of CSX by 141.7% in the first quarter. PGGM Investments now owns 132,039 shares of the transportation company’s stock valued at $4,895,000 after acquiring an additional 77,401 shares in the last quarter. Atria Investments Inc lifted its position in shares of CSX by 21.3% in the first quarter. Atria Investments Inc now owns 144,264 shares of the transportation company’s stock valued at $5,348,000 after acquiring an additional 25,315 shares in the last quarter. Swedbank AB purchased a new position in shares of CSX in the first quarter valued at about $23,585,000. LRI Investments LLC bought a new stake in shares of CSX in the first quarter worth about $220,000. Finally, Virtu Financial LLC bought a new stake in shares of CSX in the first quarter worth about $431,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSX. Wells Fargo & Company began coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price on the stock. Sanford C. Bernstein lifted their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Susquehanna reduced their target price on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a report on Tuesday, June 25th. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Monday, July 8th. Finally, Jefferies Financial Group reduced their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.14.

CSX Trading Down 2.0 %

CSX opened at $34.08 on Friday. The stock has a market cap of $66.62 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 1.89 and a beta of 1.20. The stock’s 50 day moving average price is $33.56 and its 200-day moving average price is $35.04. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. CSX’s dividend payout ratio is 26.37%.

CSX Company 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.