Riverwater Partners LLC Purchases Shares of 14,415 CSX Co. (NASDAQ:CSX)

Riverwater Partners LLC purchased a new position in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,415 shares of the transportation company’s stock, valued at approximately $465,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in CSX during the fourth quarter valued at about $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX during the fourth quarter worth about $33,000. Center for Financial Planning Inc. raised its stake 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. Meeder Asset Management Inc. lifted its holdings in CSX by 216.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock worth $35,000 after purchasing an additional 746 shares in the last quarter. Finally, Atala Financial Inc bought a new position in CSX in the 4th quarter worth approximately $36,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSX has been the topic of several recent analyst reports. Barclays reduced their price objective on shares of CSX from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday. Robert W. Baird decreased their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Wells Fargo & Company decreased their target price on CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Finally, Stephens restated an “overweight” rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $27.21 on Friday. 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 company has a market capitalization of $51.28 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.92 and a beta of 1.22. CSX Co. has a 12 month low of $26.95 and a 12 month high of $37.10. The firm’s 50-day moving average is $31.32 and its 200 day moving average is $33.04.

CSX (NASDAQ:CSX) last issued its quarterly 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 return on equity of 28.15% and a net margin of 23.95%. Research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Friday, February 28th. 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.