Harvest Fund Management Co. Ltd Boosts Holdings in CSX Co. (NASDAQ:CSX)

Harvest Fund Management Co. Ltd boosted its position in shares of CSX Co. (NASDAQ:CSX) by 10.0% in the fourth quarter, HoldingsChannel reports. The fund owned 17,365 shares of the transportation company’s stock after purchasing an additional 1,576 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in CSX were worth $564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of CSX in the fourth quarter worth $27,000. Life Planning Partners Inc purchased a new position in shares of CSX in the fourth quarter worth $27,000. Venturi Wealth Management LLC increased its stake in shares of CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after acquiring an additional 692 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CSX in the fourth quarter worth $34,000. Finally, Avion Wealth increased its stake in shares of CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after acquiring an additional 820 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CSX shares. Bank of America cut their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group cut their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Susquehanna raised their price target on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. UBS Group dropped their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

CSX Stock Down 3.0 %

CSX traded down $1.05 during trading hours on Wednesday, hitting $33.67. 23,748,579 shares of the company’s stock were exchanged, compared to its average volume of 12,377,756. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The firm has a 50 day moving average of $36.79 and a 200 day moving average of $34.45. The firm has a market cap of $65.82 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Analysts predict that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s dividend payout ratio is presently 26.37%.

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.