Great Lakes Advisors LLC increased its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,746,728 shares of the transportation company's stock after buying an additional 109,143 shares during the quarter. Great Lakes Advisors LLC owned 0.14% of CSX worth $88,637,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley Wealth Managers Inc. boosted its holdings in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company's stock valued at $26,000 after acquiring an additional 480 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of CSX in the fourth quarter worth about $31,000. Sierra Ocean LLC bought a new position in shares of CSX in the 4th quarter valued at about $33,000. Addison Advisors LLC lifted its holdings in shares of CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company's stock valued at $36,000 after acquiring an additional 812 shares during the last quarter. Finally, Center for Financial Planning Inc. raised its position in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock worth $35,000 after purchasing an additional 720 shares during the period. Hedge funds and other institutional investors own 73.57% of the company's stock.
CSX Price Performance
CSX stock opened at $29.52 on Wednesday. The firm has a market capitalization of $55.93 billion, a P/E ratio of 16.49, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a 1 year low of $29.50 and a 1 year high of $38.14. The business has a 50-day moving average of $32.39 and a 200-day moving average of $33.58. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.
CSX (NASDAQ:CSX - Get Free Report) last released 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 net margin of 23.95% and a return on equity of 28.15%. On average, equities analysts anticipate that CSX Co. will post 1.83 EPS for the current year.
CSX Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This is a positive change from CSX's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.76%. CSX's payout ratio is presently 29.05%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on CSX shares. Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and cut their price objective for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Raymond James reaffirmed an "outperform" rating and issued a $37.00 price objective (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research note on Friday, March 7th. They set a "hold" rating and a $34.00 target price for the company. BMO Capital Markets lowered 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. Finally, JPMorgan Chase & Co. lowered their price target on shares of CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average price target of $37.00.
Check Out Our Latest Stock Report on CSX
CSX Company Profile
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Free Report)
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.
Further Reading
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