Boston Financial Mangement LLC Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Boston Financial Mangement LLC increased its holdings in CSX Co. (NASDAQ:CSX) by 41.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,346 shares of the transportation company’s stock after purchasing an additional 10,734 shares during the period. Boston Financial Mangement LLC’s holdings in CSX were worth $1,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSX. Perpetual Ltd purchased a new stake in shares of CSX in the fourth quarter valued at $83,301,000. Assenagon Asset Management S.A. grew its position in shares of CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares during the period. FMR LLC grew its position in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after purchasing an additional 1,447,651 shares during the period. KBC Group NV grew its position in CSX by 616.4% during the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after acquiring an additional 958,957 shares during the period. Finally, Fisher Asset Management LLC grew its position in CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after acquiring an additional 857,302 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.2 %

NASDAQ:CSX opened at $32.46 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a one year low of $31.43 and a one year high of $40.12. The business’s 50-day simple moving average is $32.65 and its 200 day simple moving average is $33.77. The stock has a market cap of $62.60 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23.

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

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.13 dividend. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.60%. CSX’s payout ratio is 26.82%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Robert W. Baird lowered their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Susquehanna lowered their price target on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, Raymond James reissued an “outperform” rating and set a $37.00 price target (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

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.