Aspen Investment Management Inc Lowers Position in CSX Co. (NASDAQ:CSX)

Aspen Investment Management Inc trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,737 shares of the transportation company’s stock after selling 6,971 shares during the quarter. Aspen Investment Management Inc’s holdings in CSX were worth $1,766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. lifted its position 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. Morton Brown Family Wealth LLC bought a new position in shares of CSX during the third quarter valued at approximately $31,000. Sierra Ocean LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $33,000. Addison Advisors LLC lifted its holdings in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the last quarter. Finally, Center for Financial Planning Inc. boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $32.46 on Friday. The firm has a market capitalization of $62.60 billion, a P/E ratio of 18.13, a PEG ratio of 1.99 and a beta of 1.23. 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 one year low of $31.43 and a one year high of $40.12. The business has a fifty day moving average of $32.65 and a 200 day moving average of $33.77.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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%. As a group, sell-side 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. Shareholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, February 28th. CSX’s dividend payout ratio is currently 26.82%.

Analyst Ratings Changes

Several equities research analysts have commented on CSX shares. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, January 10th. Susquehanna dropped their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Barclays decreased their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Raymond James reiterated an “outperform” rating and set a $37.00 price target (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Company 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.