West Paces Advisors Inc. Purchases 70,066 Shares of CSX Co. (NASDAQ:CSX)

West Paces Advisors Inc. raised its position in shares of CSX Co. (NASDAQ:CSX) by 5,308.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 71,386 shares of the transportation company’s stock after acquiring an additional 70,066 shares during the quarter. CSX comprises 0.5% of West Paces Advisors Inc.’s holdings, making the stock its 29th biggest holding. West Paces Advisors Inc.’s holdings in CSX were worth $2,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CSX. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of CSX during the fourth quarter worth $27,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX during the fourth quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX during the fourth quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of CSX during the fourth quarter worth $31,000. Finally, Sierra Ocean LLC purchased a new stake in shares of CSX during the fourth quarter worth $33,000. 73.57% of the stock is owned by institutional investors.

CSX Trading Down 0.8%

NASDAQ CSX opened at $31.98 on Tuesday. The stock’s 50-day simple moving average is $29.32 and its two-hundred day simple moving average is $31.32. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $60.08 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.92 and a beta of 1.24.

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

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.13 per share. 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 1.63%. CSX’s payout ratio is 31.14%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSX. Susquehanna dropped their target price on CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a research report on Thursday, April 17th. UBS Group dropped their target price on CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group dropped their target price on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Argus set a $32.00 target price on CSX in a research report on Friday, April 25th. Finally, Evercore ISI dropped their target price on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Eight equities research 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, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $33.95.

CSX 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.