Sovereign Investment Advisors LLC Acquires Shares of 8,437 CSX Co. (NASDAQ:CSX)

Sovereign Investment Advisors LLC acquired a new position in shares of CSX Co. (NASDAQ:CSX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,437 shares of the transportation company's stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its holdings in shares of CSX by 0.6% during the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company's stock worth $2,840,117,000 after acquiring an additional 455,258 shares during the period. Geode Capital Management LLC raised its holdings in shares of CSX by 0.5% during the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company's stock worth $1,407,087,000 after acquiring an additional 190,346 shares during the period. Fisher Asset Management LLC raised its holdings in shares of CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after acquiring an additional 299,536 shares during the period. Bank of New York Mellon Corp raised its holdings 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 period. Finally, FMR LLC raised its holdings in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company's stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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CSX Stock Performance

Shares of CSX stock traded down $0.09 during midday trading on Thursday, hitting $29.98. 16,101,263 shares of the company were exchanged, compared to its average volume of 11,694,501. The firm has a market capitalization of $56.80 billion, a P/E ratio of 16.75, a PEG ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm's 50 day moving average price is $32.12 and its two-hundred day moving average price is $33.41. CSX Co. has a 52 week low of $28.98 and a 52 week high of $38.03.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS 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, equities research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CSX shares. BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Susquehanna lowered their price target on shares of CSX from $40.00 to $39.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Stephens reiterated an "overweight" rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and lowered their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, Benchmark reiterated a "buy" rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.00.

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.