Buckhead Capital Management LLC Makes New Investment in CSX Co. (NASDAQ:CSX)

Buckhead Capital Management LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 72,459 shares of the transportation company’s stock, valued at approximately $2,338,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its holdings in CSX by 255.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,505 shares of the transportation company’s stock worth $259,000 after acquiring an additional 5,396 shares in the last quarter. Creative Planning lifted its position in shares of CSX by 2.2% in the 3rd quarter. Creative Planning now owns 634,696 shares of the transportation company’s stock worth $21,916,000 after purchasing an additional 13,613 shares during the period. NBC Securities Inc. boosted its stake in shares of CSX by 8.3% during the third quarter. NBC Securities Inc. now owns 7,323 shares of the transportation company’s stock valued at $252,000 after purchasing an additional 560 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its stake in shares of CSX by 33.7% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 316 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its holdings in CSX by 2.5% during the third quarter. Sumitomo Life Insurance Co. now owns 45,141 shares of the transportation company’s stock valued at $1,559,000 after buying an additional 1,101 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Barclays decreased their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Susquehanna cut their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup lowered their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $37.00 price objective (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Six equities research 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 stock has a consensus rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Performance

Shares of CSX opened at $33.10 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 has a 50-day moving average of $32.77 and a two-hundred day moving average of $33.83. The stock has a market cap of $63.83 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.91 and a beta of 1.23. CSX Co. has a one year low of $31.43 and a one year high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results 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%. As a group, research analysts predict that CSX Co. will post 1.86 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is presently 26.82%.

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.