1,010 Shares in CSX Co. (NASDAQ:CSX) Bought by Sierra Ocean LLC

Sierra Ocean LLC purchased a new position in CSX Co. (NASDAQ:CSX) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,010 shares of the transportation company’s stock, valued at approximately $33,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares during the period. Diversified Trust Co grew its stake in shares of CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after acquiring an additional 46,473 shares during the last quarter. Marshall Financial Group LLC purchased a new stake in shares of CSX in the fourth quarter worth $1,084,000. Thrivent Financial for Lutherans grew its stake in shares of CSX by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after acquiring an additional 24,430 shares during the last quarter. Finally, Carnegie Investment Counsel grew its stake in shares of CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after acquiring an additional 8,474 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Up 0.8 %

CSX stock opened at $33.64 on Wednesday. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The business’s 50-day moving average is $32.71 and its two-hundred day moving average is $33.79. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market cap of $64.87 billion, a price-to-earnings ratio of 18.79, a P/E/G ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last posted its earnings results 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 net margin of 23.95% and a return on equity of 28.15%. As a group, analysts forecast that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.55%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 26.82%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CSX. BMO Capital Markets cut their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Friday, January 10th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Royal Bank of Canada cut their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Finally, Raymond James reaffirmed an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.