Myriad Asset Management US LP Buys Shares of 46,819 CSX Co. (NASDAQ:CSX)

Myriad Asset Management US LP bought a new position in CSX Co. (NASDAQ:CSX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 46,819 shares of the transportation company's stock, valued at approximately $1,511,000.

Several other institutional investors and hedge funds also recently modified their holdings of CSX. Exchange Traded Concepts LLC boosted its position in shares of CSX by 255.9% in the third quarter. Exchange Traded Concepts LLC now owns 7,505 shares of the transportation company's stock worth $259,000 after buying an additional 5,396 shares during the period. Creative Planning boosted its holdings in CSX by 2.2% in the third quarter. Creative Planning now owns 634,696 shares of the transportation company's stock valued at $21,916,000 after purchasing an additional 13,613 shares during the last quarter. NBC Securities Inc. boosted its holdings in CSX by 8.3% in the third quarter. NBC Securities Inc. now owns 7,323 shares of the transportation company's stock valued at $252,000 after purchasing an additional 560 shares during the last quarter. Secure Asset Management LLC boosted its holdings in CSX by 3.5% in the third quarter. Secure Asset Management LLC now owns 16,838 shares of the transportation company's stock valued at $581,000 after purchasing an additional 570 shares during the last quarter. Finally, Trust Co. of Vermont boosted its holdings in CSX by 1.9% in the third quarter. Trust Co. of Vermont now owns 70,244 shares of the transportation company's stock valued at $2,426,000 after purchasing an additional 1,278 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BMO Capital Markets reduced their price target on CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Susquehanna reduced their price target on CSX from $40.00 to $39.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Stephens reissued an "overweight" rating and issued a $38.00 price target on shares of CSX in a report on Friday, January 24th. Citigroup cut their price objective on CSX from $40.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Finally, Barclays cut their price objective on CSX from $40.00 to $38.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $37.16.

CSX Stock Performance

Shares of CSX stock traded down $1.23 during trading hours on Wednesday, reaching $32.41. The stock had a trading volume of 13,730,989 shares, compared to its average volume of 14,157,320. 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 twelve month low of $31.43 and a twelve month high of $40.12. The firm has a 50-day simple moving average of $32.70 and a 200-day simple moving average of $33.79. The firm has a market capitalization of $62.50 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23.

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

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. This is a boost from CSX's previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.60%. CSX's dividend payout ratio (DPR) is presently 26.82%.

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.