Elgethun Capital Management Increases Stake in CSX Co. (NASDAQ:CSX)

Elgethun Capital Management lifted its stake in CSX Co. (NASDAQ:CSX) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,792 shares of the transportation company’s stock after buying an additional 482 shares during the quarter. Elgethun Capital Management’s holdings in CSX were worth $413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of CSX in the 4th quarter worth about $31,000. Sierra Ocean LLC purchased a new position in CSX in the fourth quarter worth about $33,000. Center for Financial Planning Inc. increased its stake in CSX by 205.7% during 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. Meeder Asset Management Inc. raised its position in CSX by 216.2% during the fourth 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 period. Finally, Atala Financial Inc bought a new stake in shares of CSX in the 4th quarter valued at approximately $36,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of several analyst reports. BMO Capital Markets cut their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company cut their price objective on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. UBS Group dropped their price target on shares of CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, 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, April 2nd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

CSX Stock Down 2.8 %

NASDAQ:CSX opened at $27.21 on Monday. The company’s 50-day simple moving average is $31.32 and its 200-day simple moving average is $33.02. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a fifty-two week low of $26.95 and a fifty-two week high of $37.10. The stock has a market capitalization of $51.28 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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 analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. CSX’s dividend payout ratio (DPR) is 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.