Klingenstein Fields & Co. LP Buys New Stake in CSX Co. (NASDAQ:CSX)

Klingenstein Fields & Co. LP purchased a new stake in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,517 shares of the transportation company’s stock, valued at approximately $642,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in CSX in the 4th quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new position in CSX in the 4th quarter valued at approximately $27,000. Fortis Capital Advisors LLC purchased a new stake in shares of CSX during the 4th quarter worth $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX during the 4th quarter worth $34,000. Finally, Venturi Wealth Management LLC lifted its position in shares of CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after purchasing an additional 692 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX stock traded down $0.05 on Friday, reaching $34.34. 13,615,438 shares of the stock were exchanged, compared to its average volume of 12,428,632. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 1.42. The business has a fifty day moving average price of $36.88 and a two-hundred day moving average price of $34.37. The firm has a market capitalization of $67.22 billion, a PE ratio of 18.87, a PEG ratio of 2.00 and a beta of 1.18.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the business posted $0.48 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts anticipate that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.12 per share. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent analyst reports. Susquehanna lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research report on Thursday, March 28th. Jefferies Financial Group decreased their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday. Raymond James lifted their price objective on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Finally, Bank of America dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $37.72.

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.