Barlow Wealth Partners Inc. Acquires New Shares in CSX Co. (NASDAQ:CSX)

Barlow Wealth Partners Inc. bought a new position in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,402 shares of the transportation company’s stock, valued at approximately $361,000.

A number of other large investors have also recently made changes to their positions in CSX. Assenagon Asset Management S.A. raised its stake in CSX by 416.8% in the third quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock valued at $155,912,000 after purchasing an additional 4,089,150 shares in the last quarter. Lazard Asset Management LLC lifted its stake in CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of CSX by 68.1% during the third quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the transportation company’s stock valued at $160,970,000 after buying an additional 2,119,965 shares during the last quarter. Barclays PLC increased its holdings in shares of CSX by 29.0% in the third quarter. Barclays PLC now owns 7,160,597 shares of the transportation company’s stock worth $220,189,000 after buying an additional 1,609,942 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of CSX by 43.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock valued at $146,128,000 after acquiring an additional 1,446,685 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

CSX stock traded up $0.28 during mid-day trading on Tuesday, hitting $33.96. The company had a trading volume of 9,546,209 shares, compared to its average volume of 12,242,812. The company has a 50-day moving average price of $36.06 and a 200 day moving average price of $34.64. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a market capitalization of $66.39 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 2.03 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. On average, research analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.41%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CSX. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. TD Cowen boosted their target price on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Jefferies Financial Group lowered their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Finally, BMO Capital Markets increased their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

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.