Kestra Investment Management LLC Makes New $75,000 Investment in CSX Co. (NASDAQ:CSX)

Kestra Investment Management LLC acquired a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,323 shares of the transportation company’s stock, valued at approximately $75,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 valued at $16,139,000 after purchasing an additional 80,423 shares during the last quarter. Diversified Trust Co increased its holdings in CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC purchased a new position in CSX in the fourth quarter valued at $1,084,000. Thrivent Financial for Lutherans raised its stake in CSX by 0.7% in 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 buying an additional 24,430 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its holdings in CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after buying an additional 8,474 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on CSX shares. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Friday, January 10th. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Susquehanna reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Barclays lowered their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Trading Down 0.5 %

NASDAQ:CSX opened at $32.30 on Friday. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. 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 stock’s 50 day simple moving average is $32.63 and its 200-day simple moving average is $33.77. The firm has a market cap of $62.29 billion, a P/E ratio of 18.04, 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 (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

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

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.