Cutter & CO Brokerage Inc. Raises Position in CSX Co. (NASDAQ:CSX)

Cutter & CO Brokerage Inc. raised its holdings in CSX Co. (NASDAQ:CSX) by 952.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,093 shares of the transportation company’s stock after buying an additional 78,815 shares during the period. Cutter & CO Brokerage Inc.’s holdings in CSX were worth $2,810,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. raised its holdings in shares of CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of CSX in the 4th quarter valued at $33,000. Center for Financial Planning Inc. raised its holdings in shares of CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 720 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of CSX by 43.4% in the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of CSX in a report on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $38.00 price target on shares of CSX in a research note on Friday, January 24th. 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. Finally, Raymond James reiterated an “outperform” rating and set a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Up 0.9 %

Shares of NASDAQ:CSX opened at $32.09 on Wednesday. The company has a market cap of $61.88 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.92 and a beta of 1.23. The firm’s 50-day simple moving average is $32.59 and its 200-day simple moving average is $33.74. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $38.70.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. As a group, equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

About CSX

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.