CSX Co. (NASDAQ:CSX) Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its stake in CSX Co. (NASDAQ:CSX) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,399 shares of the transportation company’s stock after purchasing an additional 54,719 shares during the period. Assetmark Inc.’s holdings in CSX were worth $13,695,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CSX. Snider Financial Group bought a new position in shares of CSX during the fourth quarter worth about $230,000. Bahl & Gaynor Inc. lifted its holdings in CSX by 1.2% in the fourth quarter. Bahl & Gaynor Inc. now owns 42,551 shares of the transportation company’s stock worth $1,373,000 after acquiring an additional 510 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CSX by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,950,185 shares of the transportation company’s stock worth $385,632,000 after acquiring an additional 358,042 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in CSX by 13.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 118,005 shares of the transportation company’s stock worth $3,808,000 after acquiring an additional 13,836 shares during the last quarter. Finally, Mission Wealth Management LP lifted its holdings in CSX by 1.4% in the fourth quarter. Mission Wealth Management LP now owns 31,905 shares of the transportation company’s stock worth $1,030,000 after acquiring an additional 446 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, January 10th. Robert W. Baird dropped their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company dropped their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Finally, BMO Capital Markets lowered their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Stock Performance

Shares of CSX opened at $30.93 on Friday. The company has a market capitalization of $59.65 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. CSX Co. has a one year low of $30.55 and a one year high of $38.46. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company’s fifty day moving average price is $32.50 and its 200 day moving average price is $33.64.

CSX (NASDAQ:CSX) last posted its quarterly earnings data 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%. As a group, analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.13 per share. 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 1.68%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s payout ratio is 29.05%.

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.