Deseret Mutual Benefit Administrators Acquires 440 Shares of CSX Co. (NASDAQ:CSX)

Deseret Mutual Benefit Administrators grew its holdings in CSX Co. (NASDAQ:CSX) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,791 shares of the transportation company’s stock after purchasing an additional 440 shares during the period. Deseret Mutual Benefit Administrators’ holdings in CSX were worth $413,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in CSX by 20.8% in the 3rd 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 in the last quarter. Diversified Trust Co boosted its holdings in shares of CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after acquiring an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new stake in shares of CSX in the fourth quarter worth approximately $1,084,000. Thrivent Financial for Lutherans raised its holdings 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 purchasing 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 purchasing an additional 8,474 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ CSX opened at $32.30 on Friday. The stock has a market cap of $62.29 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. The firm has a fifty day moving average price of $32.63 and a 200-day moving average price of $33.77. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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 analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on CSX shares. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Benchmark reaffirmed a “buy” rating and issued a $38.00 price objective on shares of CSX in a report on Monday, January 27th. Susquehanna reduced their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird dropped their target price on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Six equities 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 currently has an average rating of “Moderate Buy” and an average target price 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.