Patrick M Sweeney & Associates Inc. Acquires Shares of 28,585 CSX Co. (NASDAQ:CSX)

Patrick M Sweeney & Associates Inc. bought a new position in CSX Co. (NASDAQ:CSX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 28,585 shares of the transportation company’s stock, valued at approximately $991,000. CSX comprises 0.9% of Patrick M Sweeney & Associates Inc.’s holdings, making the stock its 27th largest holding.

Several other institutional investors also recently modified their holdings of the business. Sovereign Financial Group Inc. grew its holdings in CSX by 1.9% during the fourth quarter. Sovereign Financial Group Inc. now owns 38,743 shares of the transportation company’s stock valued at $1,343,000 after purchasing an additional 706 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in CSX by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock worth $388,922,000 after purchasing an additional 135,169 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in CSX by 15.2% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,007 shares of the transportation company’s stock worth $659,000 after purchasing an additional 2,512 shares during the period. Apollon Wealth Management LLC increased its position in shares of CSX by 28.4% during the fourth quarter. Apollon Wealth Management LLC now owns 32,769 shares of the transportation company’s stock valued at $1,136,000 after buying an additional 7,257 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of CSX by 10.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 20,853 shares of the transportation company’s stock worth $723,000 after buying an additional 2,049 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CSX shares. Susquehanna increased their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Royal Bank of Canada lowered their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. TD Cowen lifted their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Finally, Bank of America reduced their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.00.

CSX Stock Up 0.7 %

Shares of CSX traded up $0.24 during mid-day trading on Wednesday, reaching $34.20. The company had a trading volume of 8,065,717 shares, compared to its average volume of 12,195,878. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The firm has a 50-day moving average price of $36.06 and a 200 day moving average price of $34.64. The company has a market capitalization of $66.86 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the business posted $0.48 EPS. The company’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is 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.