Canal Capital Management LLC Has $454,000 Stake in CSX Co. (NASDAQ:CSX)

Canal Capital Management LLC lifted its stake in CSX Co. (NASDAQ:CSX) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,079 shares of the transportation company’s stock after purchasing an additional 1,061 shares during the period. Canal Capital Management LLC’s holdings in CSX were worth $454,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CSX. SBI Securities Co. Ltd. bought a new stake in shares of CSX during the fourth quarter worth $31,000. Sierra Ocean LLC acquired a new stake in CSX in the fourth quarter worth about $33,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in CSX by 219.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company’s stock worth $34,000 after purchasing an additional 714 shares during the last quarter. Center for Financial Planning Inc. lifted its position in CSX by 205.7% during 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 during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of CSX by 216.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 746 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CSX. BMO Capital Markets cut their price objective on shares of CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday. Evercore ISI reduced their price target on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday. Susquehanna decreased their price objective on CSX from $37.00 to $35.00 and set a “positive” rating for the company in a research note on Thursday. Jefferies Financial Group decreased their price objective on shares of CSX from $37.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Raymond James reiterated an “outperform” rating and issued a $33.00 target price (down from $34.00) on shares of CSX in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.95.

CSX Stock Performance

Shares of CSX stock opened at $27.64 on Monday. CSX Co. has a 12 month low of $26.22 and a 12 month high of $37.10. The company’s fifty day simple moving average is $30.07 and its 200-day simple moving average is $32.48. The firm has a market cap of $52.09 billion, a PE ratio of 15.44, a P/E/G ratio of 1.92 and a beta of 1.23. 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 issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities research analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.88%. CSX’s payout ratio is 31.14%.

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.