Concurrent Investment Advisors LLC Has $1.42 Million Stock Position in CSX Co. (NASDAQ:CSX)

Concurrent Investment Advisors LLC grew its stake in shares of CSX Co. (NASDAQ:CSX) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,081 shares of the transportation company’s stock after purchasing an additional 3,314 shares during the period. Concurrent Investment Advisors LLC’s holdings in CSX were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CSX by 20.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after purchasing an additional 80,423 shares during the period. Diversified Trust Co raised its holdings in shares of CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after purchasing an additional 46,473 shares during the period. Marshall Financial Group LLC acquired a new position in shares of CSX during the fourth quarter valued at about $1,084,000. Thrivent Financial for Lutherans raised its holdings in shares of CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after purchasing an additional 24,430 shares during the period. Finally, Carnegie Investment Counsel raised its holdings in shares of CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Stephens reissued an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Wells Fargo & Company decreased their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Trading Down 0.5 %

Shares of CSX stock opened at $32.30 on Friday. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a 50-day simple moving average of $32.63 and a two-hundred day simple moving average of $33.77. The company has a market capitalization of $62.29 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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%. Research analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. CSX’s payout ratio is presently 26.82%.

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.