CSX Co. (NASDAQ:CSX) Shares Bought by Carmel Capital Partners LLC

Carmel Capital Partners LLC boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,486 shares of the transportation company’s stock after acquiring an additional 2,349 shares during the quarter. Carmel Capital Partners LLC’s holdings in CSX were worth $1,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GPM Growth Investors Inc. raised its stake in shares of CSX by 332.3% during the 4th quarter. GPM Growth Investors Inc. now owns 108,211 shares of the transportation company’s stock worth $3,492,000 after buying an additional 83,180 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of CSX during the 4th quarter worth approximately $85,959,000. Vision Financial Markets LLC purchased a new position in shares of CSX during the 4th quarter worth approximately $110,000. Proficio Capital Partners LLC raised its stake in shares of CSX by 20.9% during the 4th quarter. Proficio Capital Partners LLC now owns 18,257 shares of the transportation company’s stock worth $589,000 after buying an additional 3,159 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its stake in CSX by 19.4% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,295,064 shares of the transportation company’s stock valued at $138,602,000 after purchasing an additional 696,584 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada dropped their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Stephens reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Price Performance

CSX stock opened at $30.92 on Thursday. CSX Co. has a 52-week low of $30.62 and a 52-week high of $38.51. The stock’s fifty day simple moving average is $32.53 and its 200-day simple moving average is $33.66. 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 stock has a market capitalization of $59.63 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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 expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.68%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 29.05%.

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.