Edgemoor Investment Advisors Inc. Boosts Stake in CSX Co. (NASDAQ:CSX)

Edgemoor Investment Advisors Inc. boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 37.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,750 shares of the transportation company’s stock after buying an additional 7,500 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in CSX were worth $895,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of CSX by 40.5% during 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. Raymond James Financial Inc. purchased a new stake in shares of CSX during the 4th quarter valued at $85,959,000. Perpetual Ltd acquired a new position in shares of CSX in the 4th quarter valued at $83,301,000. River Road Asset Management LLC acquired a new position in shares of CSX in the 4th quarter valued at $46,861,000. Finally, FMR LLC increased its position 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 acquiring an additional 1,447,651 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $30.01 on Monday. The stock has a market cap of $56.86 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a fifty day simple moving average of $32.23 and a 200-day simple moving average of $33.49. CSX Co. has a 12-month low of $28.98 and a 12-month high of $38.03. The company has a current ratio of 0.86, a quick ratio of 1.23 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 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%. Equities analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSX. 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 report on Friday, January 10th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Finally, Stephens reaffirmed an “overweight” rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.