Partners in Financial Planning Buys New Position in CSX Co. (NASDAQ:CSX)

Partners in Financial Planning purchased a new position in shares of CSX Co. (NASDAQ:CSX) in the fourth quarter, HoldingsChannel reports. The fund purchased 15,816 shares of the transportation company’s stock, valued at approximately $510,000.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in CSX in the fourth quarter valued at $31,000. Sierra Ocean LLC acquired a new position in shares of CSX during the 4th quarter worth about $33,000. Center for Financial Planning Inc. increased its position 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 valued at $35,000 after acquiring an additional 720 shares during the last quarter. Atala Financial Inc bought a new stake in CSX during the fourth quarter worth about $36,000. Finally, Millstone Evans Group LLC acquired a new position in CSX during the fourth quarter valued at approximately $37,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Stephens reiterated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.75.

CSX Price Performance

NASDAQ:CSX opened at $29.11 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm 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. CSX Co. has a 52 week low of $28.98 and a 52 week high of $37.10. The firm’s 50-day simple moving average is $31.75 and its 200 day simple moving average is $33.20.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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 net margin of 23.95% and a return on equity of 28.15%. As a group, sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio is 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.