North Forty Two & Co. Acquires Shares of 13,520 CSX Co. (NASDAQ:CSX)

North Forty Two & Co. acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,520 shares of the transportation company’s stock, valued at approximately $436,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in CSX during the fourth quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX in the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. raised its holdings in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares during the period. Atala Financial Inc purchased a new stake in shares of CSX in the fourth quarter worth approximately $36,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of CSX in the fourth quarter worth approximately $39,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Down 0.2 %

Shares of NASDAQ CSX opened at $30.26 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $57.33 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The stock’s fifty day simple moving average is $32.16 and its two-hundred day simple moving average is $33.44. CSX Co. has a 12-month low of $28.98 and a 12-month high of $38.03.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. As a group, analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. This is a boost from CSX’s previous quarterly dividend of $0.12. 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%. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Wall Street Analyst Weigh In

CSX has been the topic of several recent analyst reports. Barclays reduced their price target on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, January 10th. Citigroup reduced their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. BMO Capital Markets reduced their price target on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, Royal Bank of Canada dropped their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.