Millstone Evans Group LLC Acquires Shares of 1,134 CSX Co. (NASDAQ:CSX)

Millstone Evans Group LLC bought a new stake in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,134 shares of the transportation company’s stock, valued at approximately $37,000.

Several other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in CSX in the 4th quarter valued at approximately $85,959,000. Perpetual Ltd purchased a new stake in CSX in the fourth quarter valued at approximately $83,301,000. River Road Asset Management LLC acquired a new position in CSX during the fourth quarter worth $46,861,000. Finally, FMR LLC boosted its position in shares of CSX by 10.2% during the third 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 during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX opened at $29.85 on Tuesday. The stock’s 50-day simple moving average is $31.99 and its 200-day simple moving average is $33.31. 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 firm has a market capitalization of $56.55 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.40.

CSX (NASDAQ:CSX) last issued 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 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Susquehanna cut their price objective on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Citigroup cut their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.