Atria Investments Inc Buys 27,606 Shares of CSX Co. (NASDAQ:CSX)

Atria Investments Inc boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 40.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,224 shares of the transportation company’s stock after acquiring an additional 27,606 shares during the period. Atria Investments Inc’s holdings in CSX were worth $3,105,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CSX. State Street Corp increased its stake in shares of CSX by 0.6% in the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after purchasing an additional 455,258 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CSX by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after purchasing an additional 190,346 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after purchasing an additional 299,536 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after purchasing an additional 6,730,316 shares during the last quarter. Finally, FMR LLC increased its stake in shares of CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CSX shares. JPMorgan Chase & Co. decreased their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Royal Bank of Canada cut their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Benchmark reissued a “buy” rating and set a $38.00 price objective on shares of CSX in a report on Monday, January 27th. Wells Fargo & Company cut their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Finally, Stephens reissued an “overweight” rating and set a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Stock Performance

CSX stock opened at $31.26 on Friday. The stock has a 50-day moving average price of $32.48 and a 200-day moving average price of $33.62. CSX Co. has a 1-year low of $30.55 and a 1-year high of $38.35. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market cap of $59.23 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. As a group, equities research analysts expect that CSX Co. will post 1.83 earnings per share 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 given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.66%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. CSX’s payout ratio 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.