Brooklyn FI LLC Acquires New Position in CSX Co. (NASDAQ:CSX)

Brooklyn FI LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,512 shares of the transportation company's stock, valued at approximately $566,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in CSX by 40.5% during the 4th 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 purchasing an additional 6,730,316 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of CSX during the fourth quarter valued at approximately $85,959,000. Perpetual Ltd bought a new stake in CSX during the fourth quarter worth $83,301,000. River Road Asset Management LLC bought a new position in CSX during the 4th quarter valued at $46,861,000. Finally, FMR LLC grew its stake in shares of CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company's stock worth $539,112,000 after acquiring an additional 1,447,651 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSX. Benchmark restated a "buy" rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Barclays cut their price target on shares of CSX from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. 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 report on Friday, January 24th. 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 note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research note on Friday, March 7th. They set a "hold" rating and a $34.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.00.

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CSX Price Performance

NASDAQ:CSX traded up $0.28 during trading hours on Monday, hitting $29.85. The stock had a trading volume of 13,229,970 shares, compared to its average volume of 11,744,856. The company has a 50 day simple moving average of $32.03 and a two-hundred day simple moving average of $33.34. The firm has a market capitalization of $56.55 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a one year low of $28.98 and a one year high of $37.40.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 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 forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. This is a boost from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is 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.