Myriad Asset Management US LP Makes New Investment in CSX Co. (NASDAQ:CSX)

Myriad Asset Management US LP purchased a new position in CSX Co. (NASDAQ:CSX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,819 shares of the transportation company’s stock, valued at approximately $1,511,000.

A number of other large investors have also added to or reduced their stakes in CSX. Exchange Traded Concepts LLC boosted its stake in shares of CSX by 255.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,505 shares of the transportation company’s stock valued at $259,000 after purchasing an additional 5,396 shares in the last quarter. Creative Planning boosted its stake in shares of CSX by 2.2% during the 3rd quarter. Creative Planning now owns 634,696 shares of the transportation company’s stock valued at $21,916,000 after purchasing an additional 13,613 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of CSX by 8.3% during the 3rd quarter. NBC Securities Inc. now owns 7,323 shares of the transportation company’s stock valued at $252,000 after purchasing an additional 560 shares in the last quarter. Secure Asset Management LLC boosted its stake in shares of CSX by 3.5% during the 3rd quarter. Secure Asset Management LLC now owns 16,838 shares of the transportation company’s stock valued at $581,000 after purchasing an additional 570 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of CSX by 1.9% during the 3rd quarter. Trust Co. of Vermont now owns 70,244 shares of the transportation company’s stock valued at $2,426,000 after purchasing an additional 1,278 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX stock opened at $33.37 on Friday. The company has a 50 day moving average price of $32.74 and a 200-day moving average price of $33.83. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The firm has a market capitalization of $64.35 billion, a PE ratio of 18.64, a P/E/G ratio of 1.91 and a beta of 1.23. 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 (NASDAQ:CSX) last announced 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 return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts expect that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.56%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. CSX’s payout ratio is 26.82%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CSX. Citigroup cut their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company cut their target price 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. BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Stephens reissued an “overweight” rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Finally, Royal Bank of Canada lowered their price target 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 analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

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.