Fourth Dimension Wealth LLC Purchases New Shares in CSX Co. (NASDAQ:CSX)

Fourth Dimension Wealth LLC purchased a new stake in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 900 shares of the transportation company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after buying an additional 726,507 shares in the last quarter. Invesco Ltd. grew its holdings in shares of CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after purchasing an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after purchasing an additional 299,536 shares in the last quarter. Norges Bank acquired a new stake in shares of CSX during the 4th quarter worth $780,194,000. Finally, Bank of New York Mellon Corp grew 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 worth $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 0.6%

NASDAQ:CSX opened at $30.82 on Friday. The firm’s 50 day simple moving average is $28.91 and its 200 day simple moving average is $31.65. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a one year low of $26.22 and a one year high of $37.10. The company has a market cap of $57.90 billion, a PE ratio of 17.22, a P/E/G ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio is currently 31.14%.

Analyst Ratings Changes

Several equities analysts have recently commented on CSX shares. Susquehanna dropped their target price on shares of CSX from $37.00 to $35.00 and set a “positive” rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus reduced their target price on CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Argus set a $32.00 target price on CSX in a report on Friday, April 25th. Raymond James reaffirmed an “outperform” rating and issued a $33.00 target price (down previously from $34.00) on shares of CSX in a report on Thursday, April 17th. Finally, Evercore ISI lowered their target price on CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.90.

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.