Norden Group LLC Takes $276,000 Position in CSX Co. (NASDAQ:CSX)

Norden Group LLC acquired a new position in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,947 shares of the transportation company’s stock, valued at approximately $276,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. High Net Worth Advisory Group LLC raised its stake in shares of CSX by 1.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after buying an additional 304 shares during the last quarter. Stratos Wealth Advisors LLC grew its holdings in CSX by 1.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after acquiring an additional 304 shares during the period. Cornercap Investment Counsel Inc. raised its position in shares of CSX by 0.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after acquiring an additional 309 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in shares of CSX by 2.4% in the 3rd quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 349 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of CSX by 2.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock worth $552,000 after purchasing an additional 352 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ CSX opened at $33.20 on Thursday. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a market cap of $64.90 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The business’s 50 day moving average price is $36.41 and its two-hundred day moving average price is $34.53. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

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

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CSX. BMO Capital Markets increased their price target 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. TD Cowen increased their target price on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. UBS Group decreased their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Bank of America lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Jefferies Financial Group reduced their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.00.

CSX Company 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.