Keel Point LLC Makes New Investment in CSX Co. (NASDAQ:CSX)

Keel Point LLC purchased a new stake in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, Holdings Channel.com reports. The fund purchased 5,951 shares of the transportation company’s stock, valued at approximately $206,000.

A number of other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in CSX during the fourth quarter valued at about $27,000. Life Planning Partners Inc bought a new position in CSX in the 4th quarter worth approximately $27,000. Fortis Capital Advisors LLC purchased a new position in CSX in the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC raised its holdings in CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 692 shares during the period. Finally, Janiczek Wealth Management LLC lifted its position in shares of CSX by 897.2% during the third quarter. Janiczek Wealth Management LLC now owns 1,067 shares of the transportation company’s stock worth $33,000 after acquiring an additional 960 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CSX shares. BMO Capital Markets lifted their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 target price on shares of CSX in a research note on Thursday, January 25th. Stifel Nicolaus upped their price target on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Jefferies Financial Group started coverage on CSX in a research note on Monday, April 8th. They set a “hold” rating and a $40.00 price objective for the company. Finally, TD Cowen raised their price target on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.28.

CSX Stock Down 2.0 %

Shares of CSX stock opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company’s 50 day moving average price is $36.98 and its 200-day moving average price is $34.32. The stock has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 2.03 and a beta of 1.18.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. Equities research analysts forecast that CSX Co. will post 1.97 EPS for the current year.

CSX Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. CSX’s dividend payout ratio is presently 26.09%.

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.