Life Planning Partners Inc Makes New Investment in CSX Co. (NASDAQ:CSX)

Life Planning Partners Inc purchased a new stake in CSX Co. (NASDAQ:CSX) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 25,171 shares of the transportation company’s stock, valued at approximately $780,000.

Several other large investors also recently made changes to their positions in CSX. Schroder Investment Management Group boosted its holdings in shares of CSX by 6.1% during the fourth quarter. Schroder Investment Management Group now owns 5,280,593 shares of the transportation company’s stock worth $170,405,000 after purchasing an additional 305,722 shares during the period. Allianz SE purchased a new position in shares of CSX during the 4th quarter valued at $6,787,000. Transamerica Financial Advisors Inc. raised its holdings in shares of CSX by 100.7% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 3,834 shares of the transportation company’s stock worth $124,000 after acquiring an additional 1,924 shares in the last quarter. Allstate Corp purchased a new stake in shares of CSX during the fourth quarter worth $1,857,000. Finally, DnB Asset Management AS boosted its position in CSX by 4.3% during the fourth quarter. DnB Asset Management AS now owns 897,913 shares of the transportation company’s stock valued at $28,976,000 after purchasing an additional 37,111 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the subject of several recent research reports. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Raymond James restated an “outperform” rating and set a $37.00 price target (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective for the company. Citigroup lowered their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Wells Fargo & Company reduced their price target on CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.75.

CSX Stock Performance

NASDAQ CSX opened at $29.11 on Friday. CSX Co. has a 12-month low of $28.98 and a 12-month high of $37.10. The firm has a 50-day moving average price of $31.75 and a two-hundred day moving average price of $33.20. The company has a market capitalization of $54.86 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. 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 Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.79%. CSX’s payout ratio is presently 29.05%.

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.