Center for Financial Planning Inc. Increases Stock Position in CSX Co. (NASDAQ:CSX)

Center for Financial Planning Inc. increased its position in CSX Co. (NASDAQ:CSX) by 205.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,070 shares of the transportation company’s stock after purchasing an additional 720 shares during the quarter. Center for Financial Planning Inc.’s holdings in CSX were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. boosted 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 purchasing an additional 480 shares during the period. Morton Brown Family Wealth LLC purchased a new position in shares of CSX in the third quarter valued at $31,000. Addison Advisors LLC boosted 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 purchasing an additional 812 shares during the period. Fortitude Family Office LLC boosted its stake 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 purchasing an additional 336 shares during the period. Finally, Synergy Asset Management LLC bought a new position in CSX during the 4th quarter valued at $41,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Benchmark reiterated a “buy” rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company reduced their price objective 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. Raymond James reiterated an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Finally, Susquehanna reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. 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 stock currently has an average rating of “Moderate Buy” and an average price target of $37.16.

CSX Stock Up 0.8 %

CSX stock opened at $33.37 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The firm’s 50-day simple moving average is $32.74 and its 200 day simple moving average is $33.83. The stock has a market cap 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 data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, sell-side analysts predict that CSX Co. will post 1.86 EPS for the current year.

CSX Increases Dividend

The business also recently announced 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 a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.56%. 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.