Bahl & Gaynor Inc. Increases Stock Position in CSX Co. (NASDAQ:CSX)

Bahl & Gaynor Inc. increased its position in shares of CSX Co. (NASDAQ:CSX) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,551 shares of the transportation company’s stock after buying an additional 510 shares during the period. Bahl & Gaynor Inc.’s holdings in CSX were worth $1,373,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSX. Farther Finance Advisors LLC lifted its holdings in CSX by 11.4% during the third quarter. Farther Finance Advisors LLC now owns 8,254 shares of the transportation company’s stock valued at $285,000 after purchasing an additional 842 shares in the last quarter. Clear Creek Financial Management LLC lifted its holdings in CSX by 5.8% during the third quarter. Clear Creek Financial Management LLC now owns 11,507 shares of the transportation company’s stock valued at $397,000 after purchasing an additional 634 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of CSX by 0.4% in the third quarter. Janney Montgomery Scott LLC now owns 696,804 shares of the transportation company’s stock valued at $24,061,000 after buying an additional 3,037 shares during the last quarter. Van ECK Associates Corp raised its position in shares of CSX by 35.9% in the third quarter. Van ECK Associates Corp now owns 956,778 shares of the transportation company’s stock valued at $32,139,000 after buying an additional 252,592 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of CSX by 18.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 355,061 shares of the transportation company’s stock valued at $12,260,000 after buying an additional 56,163 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Down 2.3 %

Shares of CSX stock opened at $31.20 on Wednesday. The company has a 50-day moving average of $32.57 and a two-hundred day moving average of $33.68. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 1-year low of $31.17 and a 1-year high of $38.61. The firm has a market cap of $60.17 billion, a PE ratio of 17.43, 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 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%. On average, analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.67%. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Analyst Ratings Changes

A number of brokerages have recently commented on CSX. Barclays reduced their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Raymond James reiterated an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Susquehanna reduced their target price on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Finally, Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research report on Monday, January 27th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $37.16.

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.