Martin Worley Group Purchases Shares of 7,454 CSX Co. (NASDAQ:CSX)

Martin Worley Group purchased a new position in CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,454 shares of the transportation company’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Diversified Trust Co boosted its holdings in shares of CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after purchasing an additional 46,473 shares during the last quarter. Marshall Financial Group LLC purchased a new stake in CSX during the fourth quarter valued at about $1,084,000. Carnegie Investment Counsel grew 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 acquiring an additional 8,474 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of CSX by 6.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after purchasing an additional 41,547 shares during the period. Finally, Waycross Partners LLC lifted its stake in shares of CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after purchasing an additional 40,611 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX opened at $29.74 on Thursday. CSX Co. has a 52 week low of $28.78 and a 52 week high of $37.10. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market cap of $56.05 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.92 and a beta of 1.22. The stock has a 50 day moving average of $31.54 and a 200-day moving average of $33.12.

CSX (NASDAQ:CSX) last posted 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%. As a group, analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group cut their price target on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada cut their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

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.