Arcadia Investment Management Corp MI Has $32,000 Stake in CSX Co. (NASDAQ:CSX)

Arcadia Investment Management Corp MI reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 36.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 999 shares of the transportation company’s stock after selling 565 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in CSX were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSX. Avior Wealth Management LLC increased its position in CSX by 2.5% in the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after purchasing an additional 293 shares during the last quarter. Lake Street Advisors Group LLC increased its holdings in CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after buying an additional 306 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after buying an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in CSX by 0.9% during the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after acquiring an additional 309 shares in the last quarter. Finally, Associated Banc Corp lifted its stake in CSX by 0.6% in the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after acquiring an additional 310 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ CSX opened at $32.30 on Friday. The company’s fifty day moving average is $32.63 and its two-hundred day moving average is $33.77. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The firm has a market capitalization of $62.29 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities research analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. CSX’s payout ratio is currently 26.82%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Citigroup dropped their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Barclays lowered their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced 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. BMO Capital Markets lowered their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, Benchmark restated a “buy” rating and issued a $38.00 target price on shares of CSX in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

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.