LPL Financial LLC Buys 124,615 Shares of CSX Co. (NASDAQ:CSX)

LPL Financial LLC raised its position in CSX Co. (NASDAQ:CSX) by 7.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,712,112 shares of the transportation company’s stock after buying an additional 124,615 shares during the period. LPL Financial LLC owned about 0.09% of CSX worth $55,250,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new stake in shares of CSX during the 4th quarter valued at $33,000. Center for Financial Planning Inc. lifted its stake in shares of CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 720 shares during the period. Atala Financial Inc bought a new position in shares of CSX in the 4th quarter worth $36,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of CSX during the fourth quarter worth $37,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX opened at $29.92 on Friday. 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 Co. has a 12 month low of $28.98 and a 12 month high of $37.18. The firm has a fifty day simple moving average of $31.82 and a 200 day simple moving average of $33.23. The stock has a market capitalization of $56.69 billion, a price-to-earnings ratio of 16.72, a PEG 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 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. CSX’s payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CSX shares. Raymond James reissued an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Susquehanna reduced their price objective on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Thursday. Barclays lowered their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.75.

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.