Patrick M Sweeney & Associates Inc. Acquires 378 Shares of CSX Co. (NASDAQ:CSX)

Patrick M Sweeney & Associates Inc. lifted its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.2% in the first quarter, Holdings Channel.com reports. The fund owned 32,205 shares of the transportation company’s stock after purchasing an additional 378 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in CSX were worth $948,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX in the fourth quarter worth about $27,000. Accredited Wealth Management LLC purchased a new position in shares of CSX during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new position in shares of CSX in the 4th quarter valued at approximately $31,000. Finally, Sierra Ocean LLC purchased a new stake in CSX in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ CSX opened at $32.23 on Monday. The company’s 50 day moving average is $29.28 and its two-hundred day moving average is $31.34. 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 cap of $60.55 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.92 and a beta of 1.24. CSX Co. has a 12 month low of $26.22 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio (DPR) is currently 31.14%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CSX shares. Stifel Nicolaus reduced their target price on shares of CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Raymond James restated an “outperform” rating and issued a $33.00 price objective (down previously from $34.00) on shares of CSX in a report on Thursday, April 17th. UBS Group lowered their target price on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Jefferies Financial Group cut their price target on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus target price of $33.95.

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.