Salem Investment Counselors Inc. Raises Holdings in CSX Co. (NASDAQ:CSX)

Salem Investment Counselors Inc. lifted its stake in CSX Co. (NASDAQ:CSXFree Report) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,367 shares of the transportation company’s stock after buying an additional 638 shares during the quarter. Salem Investment Counselors Inc.’s holdings in CSX were worth $775,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Soroban Capital Partners LP raised its holdings in CSX by 0.8% in the 4th quarter. Soroban Capital Partners LP now owns 58,100,864 shares of the transportation company’s stock worth $1,799,965,000 after purchasing an additional 470,000 shares during the period. Geode Capital Management LLC raised its holdings in CSX by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 39,236,265 shares of the transportation company’s stock worth $1,172,727,000 after purchasing an additional 690,267 shares during the period. Lazard Asset Management LLC raised its holdings in CSX by 10.4% in the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares during the period. Morgan Stanley raised its holdings in shares of CSX by 3.1% during the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after acquiring an additional 739,411 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its stake in shares of CSX by 101,926.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after acquiring an additional 23,300,381 shares in the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their target price on CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. TD Cowen boosted their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. BMO Capital Markets boosted their price target on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price objective on shares of CSX in a research report on Thursday, January 25th. Finally, Benchmark restated a “buy” rating and set a $38.00 price objective on shares of CSX in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.24.

Get Our Latest Research Report on CSX

CSX Stock Down 1.4 %

Shares of NASDAQ CSX opened at $37.35 on Monday. The company has a market capitalization of $73.17 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 2.16 and a beta of 1.18. CSX Co. has a 52-week low of $27.60 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. The company’s 50 day moving average price is $36.77 and its 200-day moving average price is $33.67.

CSX (NASDAQ:CSXGet Free Report) last posted its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. Equities analysts forecast that CSX Co. will post 1.96 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is currently 26.09%.

CSX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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