CSX Co. (NASDAQ:CSX) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,271,430 shares of the transportation company's stock after purchasing an additional 193,353 shares during the period. Sei Investments Co. owned 0.07% of CSX worth $41,028,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after acquiring an additional 6,730,316 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in CSX in the 4th quarter worth approximately $85,959,000. Perpetual Ltd purchased a new stake in CSX during the 4th quarter worth approximately $83,301,000. River Road Asset Management LLC acquired a new position in CSX during the 4th quarter valued at approximately $46,861,000. Finally, FMR LLC raised its holdings in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company's stock worth $539,112,000 after buying an additional 1,447,651 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

NASDAQ CSX traded down $0.25 on Thursday, hitting $29.65. The company had a trading volume of 2,439,917 shares, compared to its average volume of 11,703,890. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a market capitalization of $56.17 billion, a PE ratio of 16.58, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a 12-month low of $28.98 and a 12-month high of $37.18. The company's fifty day moving average price is $31.88 and its 200-day moving average price is $33.26.

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CSX (NASDAQ:CSX - Get Free Report) last released 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 return on equity of 28.15% and a net margin of 23.95%. As a group, analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.75%. CSX's payout ratio is currently 29.05%.

Analyst Ratings Changes

Several research firms recently issued reports on CSX. Raymond James reissued an "outperform" rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a report on Friday, March 7th. They issued a "hold" rating and a $34.00 price objective on the stock. Jefferies Financial Group upgraded CSX from a "hold" rating to a "buy" rating and set a $37.00 target price on the stock in a research report on Friday, January 10th. Susquehanna decreased their price objective on shares of CSX from $39.00 to $37.00 and set a "positive" rating for the company in a research note on Thursday. Finally, Barclays decreased their target price on shares of CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.75.

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.