Raymond James Financial Inc. Takes Position in CSX Co. (NASDAQ:CSX)

Raymond James Financial Inc. bought a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, HoldingsChannel reports. The firm bought 2,663,729 shares of the transportation company’s stock, valued at approximately $85,959,000.

Several other institutional investors have also modified their holdings of the stock. Diversified Trust Co lifted its stake in shares of CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after buying an additional 46,473 shares in the last quarter. Marshall Financial Group LLC purchased a new position in shares of CSX in the fourth quarter worth about $1,084,000. Thrivent Financial for Lutherans lifted its stake in shares of CSX by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after buying an additional 24,430 shares in the last quarter. Carnegie Investment Counsel lifted its stake in shares of CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after buying an additional 8,474 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after buying an additional 77,488 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 1.1 %

Shares of CSX stock opened at $31.26 on Monday. 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 stock has a market capitalization of $59.23 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a 50 day moving average price of $32.48 and a 200 day moving average price of $33.62. CSX Co. has a fifty-two week low of $30.55 and a fifty-two week high of $38.35.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Susquehanna reduced their target price 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. JPMorgan Chase & Co. reduced their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Friday, January 10th. Wells Fargo & Company reduced their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research note on Friday. They set a “hold” rating and a $34.00 target price on the stock. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.