Redmond Asset Management LLC Makes New Investment in CSX Co. (NASDAQ:CSX)

Redmond Asset Management LLC bought a new stake in CSX Co. (NASDAQ:CSX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,300 shares of the transportation company's stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Perpetual Ltd acquired a new position in shares of CSX in the fourth quarter worth $83,301,000. FMR LLC increased its position in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company's stock worth $539,112,000 after purchasing an additional 1,447,651 shares in the last quarter. KBC Group NV raised its stake in CSX by 616.4% in the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company's stock valued at $35,966,000 after purchasing an additional 958,957 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company's stock valued at $851,404,000 after purchasing an additional 857,302 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CSX by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company's stock valued at $440,118,000 after purchasing an additional 737,221 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 0.9 %

Shares of CSX stock traded down $0.31 on Monday, hitting $32.00. 5,031,077 shares of the company's stock traded hands, compared to its average volume of 14,077,788. CSX Co. has a 52-week low of $31.43 and a 52-week high of $38.70. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a market cap of $61.70 billion, a P/E ratio of 17.86, a PEG ratio of 1.92 and a beta of 1.23. The firm's 50-day moving average is $32.63 and its 200 day moving average is $33.77.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared 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. This represents a $0.52 dividend on an annualized basis and a yield of 1.63%. This is an increase from CSX's previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. CSX's dividend payout ratio (DPR) is 29.05%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CSX shares. Citigroup lowered their target price on shares of CSX from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, January 24th. Barclays reduced their target price on CSX from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Loop Capital cut shares of CSX from a "buy" rating to a "hold" rating and reduced their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. BMO Capital Markets cut their target price on shares of CSX from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Finally, Susquehanna decreased their price target on shares of CSX from $40.00 to $39.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, CSX presently has an average rating of "Moderate Buy" and a consensus price target of $37.16.

About CSX

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.