CoreFirst Bank & Trust Makes New $52,000 Investment in CSX Co. (NASDAQ:CSX)

CoreFirst Bank & Trust bought a new stake in shares of CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,599 shares of the transportation company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in CSX during the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new position in shares of CSX in the fourth quarter worth $33,000. Center for Financial Planning Inc. increased its holdings in shares of 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 during the period. Atala Financial Inc purchased a new stake in shares of CSX in the fourth quarter worth $36,000. Finally, Millstone Evans Group LLC bought a new stake in CSX during the fourth quarter valued at $37,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $29.53 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market cap of $55.95 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. CSX Co. has a 12 month low of $28.98 and a 12 month high of $37.18. The company has a 50-day moving average price of $31.93 and a 200-day moving average price of $33.28.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.76%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird cut their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, January 10th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Royal Bank of Canada reduced their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.