Flputnam Investment Management Co. Raises Stock Holdings in CSX Co. (NASDAQ:CSX)

Flputnam Investment Management Co. lifted its position in shares of CSX Co. (NASDAQ:CSX) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,288 shares of the transportation company’s stock after buying an additional 3,142 shares during the quarter. Flputnam Investment Management Co.’s holdings in CSX were worth $655,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CSX. Valley Wealth Managers Inc. increased its stake in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of CSX during the 4th quarter worth about $33,000. Center for Financial Planning Inc. boosted its position 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 acquiring an additional 720 shares during the last quarter. Addison Advisors LLC grew its holdings in CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new position in CSX during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 0.2 %

Shares of NASDAQ:CSX opened at $31.93 on Tuesday. CSX Co. has a 12-month low of $31.43 and a 12-month high of $38.61. 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 firm has a market cap of $61.57 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a fifty day simple moving average of $32.59 and a 200 day simple moving average of $33.69.

CSX (NASDAQ:CSX) last released its 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%. On average, equities research analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.63%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is presently 29.05%.

Wall Street Analysts Forecast Growth

CSX has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. JPMorgan Chase & Co. lowered their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Robert W. Baird cut 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. Wells Fargo & Company decreased their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Finally, Barclays dropped their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

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.