Forum Financial Management LP Boosts Holdings in CSX Co. (NASDAQ:CSX)

by · The Markets Daily

Forum Financial Management LP lifted its stake in shares of CSX Co. (NASDAQ:CSX – Free Report) by 5.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,096 shares of the transportation company’s stock after buying an additional 1,080 shares during the period. Forum Financial Management LP’s holdings in CSX were worth $648,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CSX. SBI Securities Co. Ltd. bought a new position in CSX during the 4th quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX in the fourth quarter worth $33,000. Center for Financial Planning Inc. increased its holdings in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of CSX by 216.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock worth $35,000 after purchasing an additional 746 shares during the last quarter. Finally, Atala Financial Inc bought a new position in CSX in the 4th quarter worth about $36,000. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSX. Stephens reiterated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Jefferies Financial Group decreased their target price on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Evercore ISI dropped their price target on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Bank of America decreased their price objective on shares of CSX from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.95.

Read Our Latest Research Report on CSX

CSX Stock Performance

NASDAQ:CSX opened at $27.64 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock’s fifty day moving average is $30.07 and its 200 day moving average is $32.49. The firm has a market capitalization of $52.09 billion, a PE ratio of 15.44, a PEG ratio of 1.92 and a beta of 1.23. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10.

CSX (NASDAQ:CSX – Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. On average, sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 31.14%.

CSX Company Profile

(Free Report)

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.

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