Bellecapital International Ltd. Takes $226,000 Position in CSX Co. (NASDAQ:CSX)

Bellecapital International Ltd. acquired a new position in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,000 shares of the transportation company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. increased its position in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CSX in the 4th quarter valued at $31,000. Sierra Ocean LLC acquired a new stake in shares of CSX in the 4th quarter valued at $33,000. Addison Advisors LLC raised its holdings in shares of CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares in the last quarter. Finally, Center for Financial Planning Inc. raised its holdings in shares of CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 720 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company cut their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of CSX in a report on Monday, January 27th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $37.00 price objective (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Finally, Royal Bank of Canada cut their target price 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. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Price Performance

CSX stock opened at $32.01 on Monday. CSX Co. has a 1 year low of $31.43 and a 1 year high of $38.61. The firm has a 50 day moving average price of $32.60 and a 200 day moving average price of $33.71. The company has a market cap of $61.72 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.92 and a beta of 1.23. 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 (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%. Sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s payout ratio is currently 29.05%.

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.