Hemington Wealth Management Increases Stock Position in CSX Co. (NASDAQ:CSX)

Hemington Wealth Management lifted its holdings in CSX Co. (NASDAQ:CSX) by 14.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,865 shares of the transportation company’s stock after purchasing an additional 365 shares during the period. Hemington Wealth Management’s holdings in CSX were worth $92,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in CSX by 20.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after buying an additional 80,423 shares during the period. Diversified Trust Co lifted its position in shares of CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC purchased a new stake in shares of CSX during the fourth quarter valued at about $1,084,000. Thrivent Financial for Lutherans lifted its position in shares of CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after buying an additional 24,430 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its position in CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after acquiring an additional 8,474 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSX shares. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Royal Bank of Canada decreased their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Jefferies Financial Group upgraded 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. Wells Fargo & Company decreased their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Finally, BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $37.16.

CSX Stock Performance

Shares of NASDAQ CSX opened at $32.92 on Thursday. The company has a market capitalization of $63.48 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. 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’s fifty day moving average price is $32.82 and its 200 day moving average price is $33.84. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last posted 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 net margin of 23.95% and a return on equity of 28.15%. On average, research analysts predict that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be 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 1.58%. CSX’s dividend payout ratio (DPR) 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.