Landing Point Financial Group LLC Acquires Shares of 19,403 CSX Co. (NASDAQ:CSX)

Landing Point Financial Group LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,403 shares of the transportation company’s stock, valued at approximately $639,000. CSX makes up 0.5% of Landing Point Financial Group LLC’s investment portfolio, making the stock its 28th largest holding.

Several other large investors have also recently made changes to their positions in CSX. Norges Bank purchased a new position in shares of CSX in the 4th quarter worth $780,194,000. Bank of New York Mellon Corp lifted its holdings in shares of CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in CSX by 471.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after acquiring an additional 5,568,624 shares in the last quarter. Fiduciary Management Inc. WI bought a new stake in CSX during the fourth quarter worth approximately $178,259,000. Finally, Invesco Ltd. raised its position in CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock valued at $810,076,000 after purchasing an additional 2,977,212 shares during the period. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CSX. BMO Capital Markets dropped their target price on CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price objective for the company. Evercore ISI reduced their target price on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday. Stifel Nicolaus dropped their price target on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Susquehanna reduced their price objective on shares of CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.95.

CSX Stock Up 1.1 %

Shares of CSX stock opened at $27.64 on Friday. 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 stock has a market cap of $52.09 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.92 and a beta of 1.23. The firm’s 50-day moving average is $30.07 and its two-hundred day moving average is $32.49. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, research analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.88%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is presently 31.14%.

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.