Csenge Advisory Group Reduces Holdings in CSX Co. (NASDAQ:CSX)

Csenge Advisory Group decreased its holdings in CSX Co. (NASDAQ:CSX) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,649 shares of the transportation company’s stock after selling 946 shares during the quarter. Csenge Advisory Group’s holdings in CSX were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in CSX by 20.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after purchasing an additional 80,423 shares in the last quarter. Diversified Trust Co lifted its holdings in CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after purchasing an additional 46,473 shares in the last quarter. Marshall Financial Group LLC purchased a new position in CSX during the fourth quarter valued at approximately $1,084,000. Thrivent Financial for Lutherans lifted its holdings in CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after purchasing an additional 24,430 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its holdings in CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.8 %

Shares of CSX opened at $33.37 on Tuesday. The company’s fifty day moving average is $32.72 and its 200 day moving average is $33.80. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The stock has a market capitalization of $64.35 billion, a PE ratio of 18.64, a P/E/G ratio of 1.91 and a beta of 1.23. 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 (NASDAQ:CSX) last announced 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%. Sell-side analysts expect that CSX Co. will post 1.86 earnings per share 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 given a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. CSX’s payout ratio is 26.82%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CSX. Barclays lowered their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company reduced their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

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.