CSX Co. (NASDAQ:CSX) Stake Raised by Summit Financial LLC

Summit Financial LLC grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 13.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,634 shares of the transportation company’s stock after purchasing an additional 3,436 shares during the period. Summit Financial LLC’s holdings in CSX were worth $956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its stake in shares of CSX by 216.2% during the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock worth $35,000 after acquiring an additional 746 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after purchasing an additional 15,029 shares during the period. Partners in Financial Planning purchased a new position in CSX in the 4th quarter worth about $510,000. O Shaughnessy Asset Management LLC raised its holdings in CSX by 2.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 313,713 shares of the transportation company’s stock worth $10,124,000 after buying an additional 8,294 shares during the period. Finally, ClearBridge Investments Ltd lifted its stake in CSX by 10.6% during the fourth quarter. ClearBridge Investments Ltd now owns 3,785,577 shares of the transportation company’s stock valued at $122,161,000 after buying an additional 362,461 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of several analyst reports. Citigroup dropped their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Susquehanna lowered their price objective on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Thursday, March 27th. Raymond James restated an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Robert W. Baird dropped their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price objective for the company. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

CSX Stock Performance

Shares of CSX opened at $29.74 on Thursday. The firm has a market cap of $56.05 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The company’s fifty day moving average is $31.54 and its 200-day moving average is $33.12. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 12 month low of $28.78 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last posted its 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 net margin of 23.95% and a return on equity of 28.15%. Equities analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio (DPR) is presently 29.05%.

CSX Company 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.