GPM Growth Investors Inc. Buys 83,180 Shares of CSX Co. (NASDAQ:CSX)

GPM Growth Investors Inc. raised its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 332.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,211 shares of the transportation company's stock after purchasing an additional 83,180 shares during the period. CSX accounts for approximately 1.5% of GPM Growth Investors Inc.'s holdings, making the stock its 26th biggest holding. GPM Growth Investors Inc.'s holdings in CSX were worth $3,492,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Avior Wealth Management LLC lifted its position in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company's stock valued at $407,000 after purchasing an additional 293 shares during the period. Rehmann Capital Advisory Group raised its position in shares of CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company's stock valued at $830,000 after acquiring an additional 306 shares during the period. Associated Banc Corp raised its position in shares of CSX by 0.6% in the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company's stock valued at $1,918,000 after acquiring an additional 310 shares during the period. Joel Isaacson & Co. LLC raised its position in shares of CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock valued at $421,000 after acquiring an additional 310 shares during the period. Finally, Patrick M Sweeney & Associates Inc. raised its position in shares of CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company's stock valued at $1,027,000 after acquiring an additional 313 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

CSX Stock Up 1.1 %

Shares of CSX traded up $0.33 during mid-day trading on Friday, hitting $31.26. 19,422,389 shares of the company's stock were exchanged, compared to its average volume of 11,630,004. The company has a market cap of $59.23 billion, a PE ratio of 17.46, a P/E/G ratio of 1.92 and a beta of 1.25. CSX Co. has a 52 week low of $30.55 and a 52 week high of $38.35. The company has a 50-day simple moving average of $32.48 and a 200 day simple moving average of $33.62. 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 (NASDAQ:CSX - Get Free Report) last issued its quarterly 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 return on equity of 28.15% and a net margin of 23.95%. On average, research analysts forecast that CSX Co. will post 1.83 earnings per share 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 paid a $0.13 dividend. The ex-dividend date is Friday, February 28th. This is a boost from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.66%. CSX's dividend payout ratio (DPR) is currently 29.05%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CSX. BMO Capital Markets cut their price target on shares of CSX from $40.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada cut their price target on shares of CSX from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. Stephens reiterated an "overweight" rating and issued a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Citigroup cut their price target 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX 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.