Harvest Fund Management Co. Ltd Has $3.65 Million Stock Position in CSX Co. (NASDAQ:CSX)

Harvest Fund Management Co. Ltd boosted its holdings in shares of CSX Co. (NASDAQ:CSX) by 27.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,492 shares of the transportation company’s stock after buying an additional 24,187 shares during the period. Harvest Fund Management Co. Ltd’s holdings in CSX were worth $3,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CSX. North Forty Two & Co. acquired a new position in CSX in the 4th quarter worth about $436,000. VSM Wealth Advisory LLC acquired a new position in CSX in the 4th quarter worth about $335,000. Brooklyn FI LLC acquired a new position in CSX in the 4th quarter worth about $566,000. Xponance Inc. increased its position in CSX by 2.0% in the 4th quarter. Xponance Inc. now owns 273,173 shares of the transportation company’s stock worth $8,815,000 after purchasing an additional 5,312 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new position in CSX in the 4th quarter worth about $4,123,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ:CSX opened at $30.26 on Wednesday. The business has a 50 day moving average price of $32.16 and a 200 day moving average price of $33.44. CSX Co. has a twelve month low of $28.98 and a twelve month high of $38.03. The company has a market cap of $57.33 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.92 and a beta of 1.25. 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 (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CSX. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Friday, January 10th. Raymond James reaffirmed an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Barclays lowered their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, Robert W. Baird lowered their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $37.00.

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.