Baxter Bros Inc. Raises Stake in CSX Co. (NASDAQ:CSX)

Baxter Bros Inc. raised its holdings in CSX Co. (NASDAQ:CSX) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 100,267 shares of the transportation company’s stock after buying an additional 1,036 shares during the period. Baxter Bros Inc.’s holdings in CSX were worth $3,476,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CSX. Fortitude Family Office LLC acquired a new position in CSX during the 4th quarter worth approximately $27,000. Life Planning Partners Inc purchased a new stake in shares of CSX in the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in CSX during the fourth quarter worth $34,000. Venturi Wealth Management LLC raised its position in CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after acquiring an additional 692 shares in the last quarter. Finally, Avion Wealth lifted its holdings in CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 820 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSX. Raymond James increased their price target on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. Bank of America reduced their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada dropped their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. StockNews.com cut CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, TD Cowen upped their target price on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

CSX Trading Up 0.8 %

Shares of CSX stock traded up $0.28 during mid-day trading on Friday, hitting $33.85. 6,618,097 shares of the stock were exchanged, compared to its average volume of 14,806,096. The company has a 50-day simple moving average of $36.23 and a 200 day simple moving average of $34.54. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $66.17 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the company earned $0.48 EPS. CSX’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts forecast that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.37%.

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.