Strategic Financial Concepts LLC Takes Position in CSX Co. (NASDAQ:CSX)

Strategic Financial Concepts LLC bought a new position in shares of CSX Co. (NASDAQ:CSX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 90,992 shares of the transportation company's stock, valued at approximately $2,936,000.

Other institutional investors also recently modified their holdings of the company. Perpetual Ltd bought a new stake in shares of CSX during the 4th quarter worth approximately $83,301,000. Assenagon Asset Management S.A. grew its holdings in shares of CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company's stock worth $112,946,000 after purchasing an additional 2,489,329 shares in the last quarter. FMR LLC boosted its stake in CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company's stock valued at $539,112,000 after buying an additional 1,447,651 shares in the last quarter. KBC Group NV boosted its stake in CSX by 616.4% in the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company's stock valued at $35,966,000 after buying an additional 958,957 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company's stock valued at $851,404,000 after buying an additional 857,302 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Susquehanna lowered their price objective on CSX from $40.00 to $39.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Stephens reiterated an "overweight" rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Wells Fargo & Company dropped their price target on CSX from $36.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. Benchmark reaffirmed a "buy" rating and issued a $38.00 price target on shares of CSX in a report on Monday, January 27th. Finally, Royal Bank of Canada reduced their price target on CSX from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. Six 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.16.

CSX Stock Up 0.2 %

Shares of CSX traded up $0.05 during midday trading on Thursday, hitting $32.46. 11,702,413 shares of the company's stock traded hands, compared to its average volume of 14,083,031. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. The firm's fifty day moving average is $32.67 and its 200-day moving average is $33.78. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $62.60 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data 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%. As a group, sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

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