Partners in Financial Planning Makes New $510,000 Investment in CSX Co. (NASDAQ:CSX)

Partners in Financial Planning acquired a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,816 shares of the transportation company’s stock, valued at approximately $510,000.

Other hedge funds have also modified their holdings of the company. Diversified Trust Co grew its position in CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after acquiring an additional 46,473 shares during the period. Marshall Financial Group LLC bought a new stake in shares of CSX in the 4th quarter worth about $1,084,000. 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 in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in CSX by 6.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after buying an additional 41,547 shares in the last quarter. Finally, Waycross Partners LLC grew its stake in CSX by 7.0% during the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after buying an additional 40,611 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Down 2.7 %

Shares of NASDAQ CSX opened at $29.11 on Monday. CSX Co. has a twelve month low of $28.98 and a twelve month high of $37.10. The stock has a market cap of $54.86 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company’s fifty day moving average is $31.75 and its 200-day moving average is $33.20.

CSX (NASDAQ:CSX) last posted 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%. Equities research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James reissued an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a report on Friday, January 24th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday. Stephens restated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $36.75.

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.