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

Patrick M Sweeney & Associates Inc. raised its stake in CSX Co. (NASDAQ:CSX) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,205 shares of the transportation company’s stock after acquiring an additional 378 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in CSX were worth $948,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Joel Isaacson & Co. LLC grew its holdings in shares of CSX by 2.4% during the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after purchasing an additional 310 shares during the last quarter. Portside Wealth Group LLC grew its holdings in CSX by 1.3% during the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company’s stock worth $804,000 after acquiring an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC increased its position in CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company’s stock valued at $862,000 after acquiring an additional 363 shares during the period. Hemington Wealth Management raised its stake in shares of CSX by 14.6% during the fourth quarter. Hemington Wealth Management now owns 2,865 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 365 shares during the last quarter. Finally, New Republic Capital LLC lifted its holdings in shares of CSX by 1.7% during the fourth quarter. New Republic Capital LLC now owns 22,397 shares of the transportation company’s stock worth $723,000 after purchasing an additional 370 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Performance

NASDAQ:CSX opened at $32.23 on Monday. The business’s fifty day moving average is $29.28 and its 200 day moving average is $31.34. The firm 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. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10.

CSX (NASDAQ:CSX) last announced 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). CSX had a return on equity of 28.15% and a net margin of 23.95%. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently commented on CSX. Royal Bank of Canada cut their target price on CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group dropped their target price on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Citigroup cut their price objective on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.