Aviance Capital Partners LLC Purchases 22,901 Shares of CSX Co. (NASDAQ:CSX)

Aviance Capital Partners LLC lifted its holdings in CSX Co. (NASDAQ:CSX) by 340.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,636 shares of the transportation company’s stock after purchasing an additional 22,901 shares during the period. Aviance Capital Partners LLC’s holdings in CSX were worth $1,099,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CSX. Price T Rowe Associates Inc. MD grew its stake in shares of CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after acquiring an additional 9,914,656 shares during the period. Capital International Investors increased its stake in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Morgan Stanley raised its position in shares of CSX by 3.1% during the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after purchasing an additional 739,411 shares during the period. Fisher Asset Management LLC lifted its stake in shares of CSX by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after buying an additional 470,640 shares in the last quarter. Finally, Norges Bank bought a new position in CSX in the 4th quarter worth $757,276,000. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of several research analyst reports. Wells Fargo & Company started coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective on the stock. Bank of America cut their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Susquehanna lowered their target price on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a report on Tuesday, June 25th. Royal Bank of Canada cut their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Finally, Stifel Nicolaus boosted their price target on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.59.

CSX Trading Up 0.4 %

Shares of CSX opened at $33.59 on Tuesday. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The company’s fifty day simple moving average is $33.46 and its 200-day simple moving average is $35.14. The company has a market cap of $65.67 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. As a group, analysts expect that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.