NEOS Investment Management LLC Buys 50,364 Shares of CSX Co. (NASDAQ:CSX)

NEOS Investment Management LLC increased its stake in CSX Co. (NASDAQ:CSX) by 24.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 254,416 shares of the transportation company’s stock after acquiring an additional 50,364 shares during the period. NEOS Investment Management LLC’s holdings in CSX were worth $8,210,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co boosted its holdings in shares of CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares in the last quarter. Marshall Financial Group LLC purchased a new stake in CSX in the fourth quarter worth approximately $1,084,000. Carnegie Investment Counsel boosted its stake in CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after buying an additional 8,474 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in CSX by 6.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after acquiring an additional 41,547 shares during the last quarter. Finally, Waycross Partners LLC raised its stake in shares of CSX by 7.0% during the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after acquiring an additional 40,611 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 1.3 %

Shares of CSX stock opened at $29.90 on Thursday. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.18. The firm has a market cap of $56.65 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.92 and a beta of 1.25. The company has a 50-day moving average of $31.88 and a 200 day moving average of $33.26. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

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

CSX Increases Dividend

The business 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 represents a $0.52 annualized dividend and a yield of 1.74%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is 29.05%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSX. Robert W. Baird cut their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Citigroup reduced their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Raymond James reissued an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Royal Bank of Canada dropped their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Finally, Barclays dropped their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.