Zimmer Partners LP Acquires 5,400 Shares of CSX Co. (NASDAQ:CSX)

Zimmer Partners LP raised its holdings in CSX Co. (NASDAQ:CSX) by 7.0% during the fourth quarter, HoldingsChannel reports. The firm owned 82,500 shares of the transportation company’s stock after acquiring an additional 5,400 shares during the quarter. Zimmer Partners LP’s holdings in CSX were worth $2,662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Joel Isaacson & Co. LLC lifted its stake in CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after purchasing an additional 310 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its holdings in shares of CSX by 1.0% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after buying an additional 313 shares in the last quarter. West Branch Capital LLC increased its holdings in shares of CSX by 3.3% during the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock worth $333,000 after buying an additional 332 shares in the last quarter. Trust Point Inc. lifted its stake in shares of CSX by 2.6% in the 4th quarter. Trust Point Inc. now owns 13,722 shares of the transportation company’s stock valued at $443,000 after acquiring an additional 344 shares during the last quarter. Finally, Secure Asset Management LLC boosted its holdings in shares of CSX by 2.1% during the 4th quarter. Secure Asset Management LLC now owns 17,195 shares of the transportation company’s stock valued at $555,000 after acquiring an additional 357 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada lowered their target price on CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a report on Thursday, April 17th. BMO Capital Markets reduced their price target on CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Benchmark reiterated a “buy” rating and set a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Finally, Stifel Nicolaus decreased their price target on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.90.

CSX Trading Up 0.1%

CSX opened at $31.23 on Wednesday. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. The company has a fifty day moving average of $28.88 and a 200-day moving average of $31.73. The stock has a market cap of $58.67 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. 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 analysts’ consensus estimates of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. On average, sell-side analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.67%. 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.