Buckhead Capital Management LLC Purchases New Stake in CSX Co. (NASDAQ:CSX)

Buckhead Capital Management LLC bought a new position in CSX Co. (NASDAQ:CSX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 72,459 shares of the transportation company's stock, valued at approximately $2,338,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. raised its stake in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company's stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC bought a new stake in CSX during the third quarter worth approximately $31,000. Addison Advisors LLC lifted its position in CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company's stock worth $36,000 after purchasing an additional 812 shares during the period. Fortitude Family Office LLC boosted its stake in CSX by 43.4% during the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company's stock valued at $38,000 after purchasing an additional 336 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of CSX during the 4th quarter valued at $39,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research reports. Citigroup reduced their target price on shares of CSX from $40.00 to $39.00 and set a "buy" rating for the company in a report on Friday, January 24th. Robert W. Baird decreased their price objective on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Stephens reissued an "overweight" rating and set a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Barclays decreased their target price on CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. dropped their price target on CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $37.16.

CSX Price Performance

NASDAQ:CSX traded up $0.27 during mid-day trading on Monday, hitting $33.37. The company's stock had a trading volume of 10,739,899 shares, compared to its average volume of 14,562,859. 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 stock has a fifty day moving average of $32.72 and a 200-day moving average of $33.80. The company has a market capitalization of $64.35 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.91 and a beta of 1.23. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results 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%. As a group, equities analysts forecast that CSX Co. will post 1.86 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. Investors of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. This is a boost from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is 26.82%.

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.