Thoroughbred Financial Services LLC Has $871,000 Holdings in CSX Co. (NASDAQ:CSX)

Thoroughbred Financial Services LLC raised its position in shares of CSX Co. (NASDAQ:CSX) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,013 shares of the transportation company’s stock after acquiring an additional 934 shares during the period. Thoroughbred Financial Services LLC’s holdings in CSX were worth $871,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after purchasing an additional 726,507 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after buying an additional 299,536 shares during the period. Norges Bank bought a new stake in shares of CSX during the fourth quarter worth $780,194,000. Bank of New York Mellon Corp boosted its holdings 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. Finally, Charles Schwab Investment Management Inc. increased its position in CSX by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,950,185 shares of the transportation company’s stock worth $385,632,000 after purchasing an additional 358,042 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSX. Wells Fargo & Company reduced their target price on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. UBS Group dropped their target price on shares of CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, January 10th. Citigroup dropped their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Benchmark restated a “buy” rating and set a $38.00 target price on shares of CSX in a report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.20.

CSX Stock Down 2.8 %

Shares of NASDAQ CSX opened at $27.21 on Friday. The company has a 50 day simple moving average of $31.32 and a 200 day simple moving average of $33.03. 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 Co. has a 1 year low of $26.95 and a 1 year high of $37.10. The firm has a market cap of $51.28 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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 net margin of 23.95% and a return on equity of 28.15%. On average, research analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.91%. CSX’s dividend payout ratio (DPR) is 29.05%.

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.