Resonant Capital Advisors LLC Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Resonant Capital Advisors LLC grew its position in CSX Co. (NASDAQ:CSX) by 93.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,541 shares of the transportation company’s stock after buying an additional 23,504 shares during the quarter. Resonant Capital Advisors LLC’s holdings in CSX were worth $1,683,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Value Partners Investments Inc. purchased a new stake in CSX during the 3rd quarter worth about $1,172,000. Morgan Stanley increased its position in CSX by 3.1% during the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares in the last quarter. International Assets Investment Management LLC increased its position in CSX by 3,241.9% during the 4th quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock worth $8,158,000 after purchasing an additional 228,263 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in CSX by 5.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock worth $25,078,000 after purchasing an additional 34,730 shares in the last quarter. Finally, Sapient Capital LLC purchased a new stake in CSX during the 4th quarter worth about $1,279,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the subject of a number of recent research reports. Jefferies Financial Group dropped their price objective on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Thursday. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. TD Cowen raised their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Finally, BMO Capital Markets raised their price target on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.72.

CSX Stock Performance

NASDAQ CSX opened at $34.34 on Friday. The firm has a market capitalization of $67.22 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.00 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 0.91. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The business’s 50-day simple moving average is $36.88 and its 200-day simple moving average is $34.35.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion for 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 revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. Equities analysts predict that CSX Co. will post 1.96 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.12 per share. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.