Sei Investments Co. Purchases 193,353 Shares of CSX Co. (NASDAQ:CSX)

Sei Investments Co. lifted its position in shares of CSX Co. (NASDAQ:CSX) by 17.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,271,430 shares of the transportation company’s stock after buying an additional 193,353 shares during the quarter. Sei Investments Co.’s holdings in CSX were worth $41,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group increased its position in CSX by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after buying an additional 306 shares during the period. Associated Banc Corp increased its position in CSX by 0.6% during the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after acquiring an additional 310 shares during the period. Joel Isaacson & Co. LLC raised its stake in CSX by 2.4% in the 4th 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 in the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after purchasing an additional 313 shares during the period. Finally, West Branch Capital LLC grew its position in shares of CSX by 3.3% during the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock worth $333,000 after purchasing an additional 332 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Up 0.9 %

Shares of CSX stock opened at $29.85 on Tuesday. CSX Co. has a twelve month low of $28.98 and a twelve month high of $37.40. The stock’s fifty day simple moving average is $31.99 and its 200 day simple moving average is $33.31. 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 firm has a market capitalization of $56.55 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, sell-side analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Analyst Ratings Changes

CSX has been the subject of several recent research reports. Royal Bank of Canada cut their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Barclays reduced their target price on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Susquehanna cut their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Raymond James reissued an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $37.00.

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.