Skylands Capital LLC Increases Stake in CSX Co. (NASDAQ:CSX)

Skylands Capital LLC raised its position in CSX Co. (NASDAQ:CSX) by 34.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 316,850 shares of the transportation company’s stock after purchasing an additional 81,900 shares during the period. CSX accounts for approximately 1.4% of Skylands Capital LLC’s portfolio, making the stock its 20th biggest holding. Skylands Capital LLC’s holdings in CSX were worth $10,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares during the last quarter. Diversified Trust Co increased its position in shares of CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares during the last quarter. Marshall Financial Group LLC acquired a new stake in shares of CSX during the 4th quarter worth about $1,084,000. Thrivent Financial for Lutherans increased its position in shares of CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares during the last quarter. Finally, Carnegie Investment Counsel increased its position in shares of CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after purchasing an additional 8,474 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX opened at $32.30 on Monday. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market cap of $62.29 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The stock has a 50-day moving average of $32.63 and a 200-day moving average of $33.77.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 research analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

Wall Street Analyst Weigh In

CSX has been the subject of several research reports. Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of CSX in a research report on Monday, January 27th. JPMorgan Chase & Co. dropped their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Friday, January 10th. Wells Fargo & Company dropped their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Finally, Susquehanna decreased their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.16.

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.