Tranquility Partners LLC Increases Stock Position in CSX Co. (NASDAQ:CSX)

Tranquility Partners LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 40.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,961 shares of the transportation company’s stock after buying an additional 3,449 shares during the period. Tranquility Partners LLC’s holdings in CSX were worth $415,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Value Partners Investments Inc. acquired a new stake in shares of CSX in the third quarter valued at about $1,172,000. Morgan Stanley boosted its stake in shares of CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after purchasing an additional 739,411 shares during the period. International Assets Investment Management LLC boosted its stake in shares of CSX by 3,241.9% in the fourth quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock valued at $8,158,000 after purchasing an additional 228,263 shares during the period. Sapient Capital LLC acquired a new stake in CSX during the fourth quarter worth approximately $1,279,000. Finally, EP Wealth Advisors LLC raised its holdings in CSX by 414.8% during the third quarter. EP Wealth Advisors LLC now owns 51,534 shares of the transportation company’s stock worth $1,585,000 after purchasing an additional 41,524 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock traded up $0.61 during trading on Thursday, hitting $34.77. The stock had a trading volume of 4,763,313 shares, compared to its average volume of 11,803,426. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company’s 50 day moving average price is $36.98 and its two-hundred day moving average price is $34.32. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. The stock has a market cap of $68.07 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the company posted $0.48 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that CSX Co. will post 1.97 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is currently 26.09%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Susquehanna raised their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Jefferies Financial Group assumed coverage on shares of CSX in a report on Monday, April 8th. They set a “hold” rating and a $40.00 price objective on the stock. StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Bank of America 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 Thursday. Finally, Raymond James lifted their target price on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.33.

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.