Tortoise Investment Management LLC Makes New $37,000 Investment in CSX Co. (NASDAQ:CSX)

Tortoise Investment Management LLC bought a new position in shares of CSX Co. (NASDAQ:CSXFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,005 shares of the transportation company’s stock, valued at approximately $37,000.

Other hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in CSX during the 4th quarter worth approximately $27,000. Life Planning Partners Inc purchased a new stake in shares of CSX in the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX in the 4th quarter valued at approximately $34,000. Venturi Wealth Management LLC increased its position in shares of CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 692 shares during the last quarter. Finally, Avion Wealth increased its position in shares of CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 820 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their price objective on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Jefferies Financial Group dropped their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Finally, TD Cowen increased their target price on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Get Our Latest Research Report on CSX

CSX Stock Performance

CSX stock traded down $0.41 during midday trading on Friday, hitting $33.52. 8,218,484 shares of the company’s stock were exchanged, compared to its average volume of 12,170,002. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock has a market cap of $65.53 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. The firm’s 50 day simple moving average is $35.42 and its 200 day simple moving average is $34.82.

CSX (NASDAQ:CSXGet Free Report) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) 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 company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the firm posted $0.48 EPS. CSX’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts predict that CSX Co. will post 1.95 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.43%. The ex-dividend date is Thursday, May 30th. CSX’s payout ratio is currently 26.37%.

CSX Company 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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