Brooklyn FI LLC Acquires Shares of 16,512 CSX Co. (NASDAQ:CSX)

Brooklyn FI LLC acquired a new stake in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,512 shares of the transportation company’s stock, valued at approximately $566,000.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares during the period. Raymond James Financial Inc. purchased a new position in shares of CSX during the 4th quarter valued at approximately $85,959,000. Perpetual Ltd acquired a new position in shares of CSX in the 4th quarter valued at $83,301,000. River Road Asset Management LLC purchased a new stake in CSX during the fourth quarter worth $46,861,000. Finally, FMR LLC grew its position in CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after buying an additional 1,447,651 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.6 %

CSX stock opened at $30.07 on Thursday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average of $32.12 and a two-hundred day moving average of $33.41. CSX Co. has a 12 month low of $28.98 and a 12 month high of $38.03. The company has a market cap of $56.97 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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 forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.73%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Analyst Ratings Changes

A number of brokerages have weighed in on CSX. Wells Fargo & Company decreased their price objective 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. Raymond James reaffirmed an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. BMO Capital Markets lowered their price target on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Finally, Barclays decreased their target price on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.