Envestnet Asset Management Inc. Purchases 435,769 Shares of CSX Co. (NASDAQ:CSX)

Envestnet Asset Management Inc. boosted its position in CSX Co. (NASDAQ:CSX - Free Report) by 16.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,104,626 shares of the transportation company's stock after purchasing an additional 435,769 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of CSX worth $100,186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSX. SBI Securities Co. Ltd. acquired a new position in shares of CSX in the 4th quarter worth approximately $31,000. Sierra Ocean LLC acquired a new position in CSX in the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. grew its position in CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock worth $35,000 after buying an additional 720 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of CSX by 216.2% in the fourth quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company's stock valued at $35,000 after buying an additional 746 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of CSX during the 4th quarter valued at $36,000. 73.57% of the stock is owned by institutional investors.

CSX Stock Up 1.4 %

NASDAQ CSX traded up $0.39 during trading on Monday, reaching $28.40. The company's stock had a trading volume of 2,433,438 shares, compared to its average volume of 12,632,774. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $53.53 billion, a PE ratio of 15.87, a PEG ratio of 1.92 and a beta of 1.23. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10. The business has a 50-day moving average price of $30.58 and a 200-day moving average price of $32.71.

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CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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%. On average, research analysts forecast that CSX Co. will post 1.83 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 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This is a positive change from CSX's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.83%. CSX's dividend payout ratio is currently 29.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Loop Capital cut CSX from a "buy" rating to a "hold" rating and decreased their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Barclays dropped their price target on CSX from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on shares of CSX from $34.00 to $31.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada cut their price target on shares of CSX from $34.00 to $33.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.55.

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.