Snider Financial Group Invests $230,000 in CSX Co. (NASDAQ:CSX)

Snider Financial Group purchased a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 7,118 shares of the transportation company’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSX. Bank of New York Mellon Corp increased its stake in shares of CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after acquiring an additional 6,730,316 shares during the period. Perpetual Ltd acquired a new position in CSX during the 4th quarter worth approximately $83,301,000. FMR LLC raised its stake in shares of 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 buying an additional 1,447,651 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 buying an additional 958,957 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of 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 owned by hedge funds and other institutional investors.

CSX Trading Down 2.3 %

Shares of CSX opened at $31.20 on Wednesday. CSX Co. has a fifty-two week low of $31.17 and a fifty-two week high of $38.61. The company has a market capitalization of $60.17 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The stock has a fifty day moving average of $32.57 and a two-hundred day moving average of $33.68. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last released its earnings results 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, analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.13 dividend. The ex-dividend date is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.67%. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective 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 upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, January 10th. Citigroup decreased their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Loop Capital downgraded 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. Finally, Raymond James restated an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.