Xponance Inc. Buys 5,312 Shares of CSX Co. (NASDAQ:CSX)

Xponance Inc. boosted its holdings in CSX Co. (NASDAQ:CSX) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 273,173 shares of the transportation company’s stock after purchasing an additional 5,312 shares during the quarter. Xponance Inc.’s holdings in CSX were worth $8,815,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CSX. Bank of New York Mellon Corp lifted its stake in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in CSX in the fourth quarter valued at $85,959,000. Perpetual Ltd acquired a new stake in CSX in the fourth quarter valued at $83,301,000. River Road Asset Management LLC acquired a new stake in CSX in the fourth quarter valued at $46,861,000. Finally, FMR LLC lifted its stake in CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after acquiring an additional 1,447,651 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CSX. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. cut their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Citigroup cut their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, BMO Capital Markets cut their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.00.

CSX Price Performance

CSX stock opened at $30.26 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 12 month low of $28.98 and a 12 month high of $38.03. The firm has a market cap of $57.33 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.92 and a beta of 1.25. The company’s 50-day moving average price is $32.16 and its two-hundred day moving average price is $33.44.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio (DPR) is currently 29.05%.

CSX 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.