Anchor Investment Management LLC Cuts Stock Holdings in CSX Co. (NASDAQ:CSX)

Anchor Investment Management LLC lowered its position in CSX Co. (NASDAQ:CSX) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,879 shares of the transportation company’s stock after selling 2,045 shares during the period. Anchor Investment Management LLC’s holdings in CSX were worth $2,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in CSX during the fourth quarter worth $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX during the 4th quarter worth $33,000. Center for Financial Planning Inc. grew its stake in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of CSX by 216.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 746 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in shares of CSX in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of several recent analyst reports. Benchmark restated a “buy” rating and set a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Raymond James lowered their price target on CSX from $37.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday. Jefferies Financial Group dropped their price objective on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft started coverage on CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 target price on the stock. Finally, Susquehanna dropped their price target on CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $35.55.

CSX Stock Performance

CSX stock opened at $28.27 on Tuesday. The stock has a fifty day moving average price of $30.49 and a 200 day moving average price of $32.67. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The firm has a market capitalization of $53.28 billion, a P/E ratio of 15.79, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. Equities research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

CSX 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.