Northstar Advisory Group LLC Buys Shares of 7,234 CSX Co. (NASDAQ:CSX)

Northstar Advisory Group LLC acquired a new stake in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,234 shares of the transportation company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CSX. Bornite Capital Management LP purchased a new position in shares of CSX in the 1st quarter valued at about $14,980,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CSX by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock valued at $230,637,000 after buying an additional 347,514 shares during the period. Blair William & Co. IL boosted its stake in shares of CSX by 12.7% in the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock valued at $4,581,000 after buying an additional 13,829 shares during the period. Sei Investments Co. boosted its stake in shares of CSX by 4.5% in the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock valued at $7,361,000 after buying an additional 8,488 shares during the period. Finally, Cetera Investment Advisers boosted its stake in shares of CSX by 16.8% in the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock valued at $2,678,000 after buying an additional 10,276 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.1 %

Shares of NASDAQ:CSX opened at $36.81 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The stock’s fifty day simple moving average is $36.84 and its 200-day simple moving average is $33.76. The company has a market capitalization of $72.06 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.09 and a beta of 1.18.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. CSX had a return on equity of 30.52% and a net margin of 25.35%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts forecast that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently declared 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. The ex-dividend date was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.30%. CSX’s dividend payout ratio is currently 26.09%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent analyst reports. Stifel Nicolaus decreased their target price on CSX from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. TD Cowen lifted their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Thursday, January 25th. BMO Capital Markets boosted their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $34.00 target price on shares of CSX in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.24.

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.