L.M. Kohn & Company Has $902,000 Position in CSX Co. (NASDAQ:CSX)

L.M. Kohn & Company trimmed its stake in CSX Co. (NASDAQ:CSX) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 27,952 shares of the transportation company’s stock after selling 793 shares during the quarter. L.M. Kohn & Company’s holdings in CSX were worth $902,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CSX. Valley Wealth Managers Inc. raised its stake in shares of CSX by 177.8% in the third 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 last quarter. Morton Brown Family Wealth LLC bought a new position in CSX in the 3rd quarter valued at $31,000. Center for Financial Planning Inc. boosted its stake in CSX by 205.7% in the fourth 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. Addison Advisors LLC increased its stake in shares of CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the subject of several research reports. Robert W. Baird lowered their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Royal Bank of Canada dropped their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, January 10th. BMO Capital Markets dropped their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. lowered 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. Six equities research analysts have rated the stock with a hold rating and thirteen have issued 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 an average price target of $37.16.

CSX Trading Up 0.8 %

NASDAQ:CSX opened at $33.37 on Friday. The business’s 50-day simple moving average is $32.72 and its 200-day simple moving average is $33.82. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a market capitalization of $64.35 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its quarterly 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 net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts expect that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. CSX’s payout ratio is 26.82%.

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.