North Forty Two & Co. Buys New Holdings in CSX Co. (NASDAQ:CSX)

North Forty Two & Co. purchased a new stake in CSX Co. (NASDAQ:CSX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,520 shares of the transportation company's stock, valued at approximately $436,000.

A number of other hedge funds have also modified their holdings of the stock. Natixis Advisors LLC grew its stake in CSX by 16.0% in the 3rd quarter. Natixis Advisors LLC now owns 659,958 shares of the transportation company's stock valued at $22,788,000 after buying an additional 90,800 shares during the last quarter. AMG National Trust Bank boosted its stake in CSX by 387.2% in the third quarter. AMG National Trust Bank now owns 98,581 shares of the transportation company's stock worth $3,404,000 after purchasing an additional 78,348 shares in the last quarter. Aviance Capital Partners LLC raised its position in CSX by 11.4% in the 3rd quarter. Aviance Capital Partners LLC now owns 33,119 shares of the transportation company's stock worth $1,144,000 after purchasing an additional 3,402 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in CSX by 4.9% in the third quarter. Pathstone Holdings LLC now owns 282,471 shares of the transportation company's stock valued at $9,754,000 after acquiring an additional 13,299 shares during the last quarter. Finally, Caprock Group LLC grew its position in shares of CSX by 2.4% during the 3rd quarter. Caprock Group LLC now owns 36,560 shares of the transportation company's stock worth $1,262,000 after buying an additional 861 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

CSX Trading Down 1.4 %

Shares of CSX traded down $0.41 during trading hours on Friday, hitting $29.57. The company had a trading volume of 25,368,757 shares, compared to its average volume of 11,738,900. The stock's 50 day moving average price is $32.03 and its 200 day moving average price is $33.35. CSX Co. has a 52-week low of $28.98 and a 52-week high of $37.40. The firm has a market cap of $56.02 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

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 (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, research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.76%. The ex-dividend date was Friday, February 28th. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is 29.05%.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent analyst reports. Stephens reissued an "overweight" rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Raymond James restated an "outperform" rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a research note 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. JPMorgan Chase & Co. decreased their price target on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Finally, Robert W. Baird dropped their price target on shares of CSX from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.