Sequoia Financial Advisors LLC Acquires 13,523 Shares of CSX Co. (NASDAQ:CSX)

Sequoia Financial Advisors LLC lifted its holdings in CSX Co. (NASDAQ:CSX) by 13.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 114,523 shares of the transportation company’s stock after acquiring an additional 13,523 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in CSX were worth $3,954,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CSX. Itau Unibanco Holding S.A. bought a new position in CSX during the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX during the second quarter valued at approximately $27,000. Fairscale Capital LLC bought a new position in shares of CSX in the second quarter worth approximately $32,000. Valued Wealth Advisors LLC increased its stake in shares of CSX by 172.7% in the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after buying an additional 594 shares during the period. Finally, TFC Financial Management Inc. raised its holdings in CSX by 72.4% during the 2nd quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock valued at $35,000 after buying an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CSX. Wells Fargo & Company dropped their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada cut their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. TD Cowen decreased their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Finally, Loop Capital decreased their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Performance

Shares of CSX stock opened at $33.59 on Thursday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The company has a market capitalization of $65.67 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company’s 50-day moving average is $34.04 and its 200 day moving average is $33.90.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts expect that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is currently 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.