Life Planning Partners Inc Buys New Stake in CSX Co. (NASDAQ:CSX)

Life Planning Partners Inc bought a new stake in CSX Co. (NASDAQ:CSX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,171 shares of the transportation company’s stock, valued at approximately $780,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Perpetual Ltd acquired a new position in CSX in the fourth quarter valued at about $83,301,000. Assenagon Asset Management S.A. boosted its position in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after buying an additional 2,489,329 shares in the last quarter. FMR LLC lifted its position in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares in the last quarter. KBC Group NV lifted its position in shares of CSX by 616.4% during the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after purchasing an additional 958,957 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after purchasing an additional 857,302 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.8 %

Shares of NASDAQ:CSX opened at $33.37 on Friday. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. 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 company has a market capitalization of $64.35 billion, a PE ratio of 18.64, a PEG ratio of 1.91 and a beta of 1.23. The company has a 50 day moving average price of $32.74 and a two-hundred day moving average price of $33.83.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts forecast that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. CSX’s dividend payout ratio is currently 29.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CSX shares. JPMorgan Chase & Co. reduced their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Susquehanna reduced their target price on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Barclays reduced their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Citigroup cut their price objective 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. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $37.16.

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.