1,005 Shares in CSX Co. (NASDAQ:CSX) Bought by Tortoise Investment Management LLC

Tortoise Investment Management LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,005 shares of the transportation company’s stock, valued at approximately $35,000.

Several other institutional investors have also recently made changes to their positions in the business. Syon Capital LLC increased its holdings in CSX by 8.7% in the fourth quarter. Syon Capital LLC now owns 23,505 shares of the transportation company’s stock valued at $815,000 after buying an additional 1,875 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of CSX by 11.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 10,611 shares of the transportation company’s stock worth $365,000 after purchasing an additional 1,076 shares in the last quarter. Chelsea Counsel Co. purchased a new stake in shares of CSX during the fourth quarter worth about $142,000. V Square Quantitative Management LLC increased its stake in shares of CSX by 50.2% during the fourth quarter. V Square Quantitative Management LLC now owns 28,785 shares of the transportation company’s stock worth $998,000 after purchasing an additional 9,624 shares in the last quarter. Finally, Sunpointe LLC purchased a new stake in shares of CSX during the fourth quarter worth about $402,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CSX shares. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Susquehanna upped their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. UBS Group dropped their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Royal Bank of Canada dropped their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Finally, Jefferies Financial Group dropped their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.82.

CSX Price Performance

NASDAQ:CSX traded down $0.35 during mid-day trading on Friday, hitting $32.18. 13,292,007 shares of the company’s stock traded hands, compared to its average volume of 9,948,660. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The firm’s 50 day simple moving average is $33.87 and its 200 day simple moving average is $35.13. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a market cap of $62.91 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.67 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share. Sell-side analysts expect that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.49%. CSX’s payout ratio is 26.37%.

CSX Company 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.