GPM Growth Investors Inc. Increases Position in CSX Co. (NASDAQ:CSX)

GPM Growth Investors Inc. raised its position in CSX Co. (NASDAQ:CSX) by 332.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,211 shares of the transportation company’s stock after purchasing an additional 83,180 shares during the quarter. CSX accounts for approximately 1.5% of GPM Growth Investors Inc.’s portfolio, making the stock its 26th largest position. GPM Growth Investors Inc.’s holdings in CSX were worth $3,492,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Avior Wealth Management LLC grew its stake in shares of CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after acquiring an additional 293 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after acquiring an additional 306 shares in the last quarter. Associated Banc Corp grew its stake in shares of CSX by 0.6% during the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after purchasing an additional 310 shares in the last quarter. Joel Isaacson & Co. LLC grew its stake in shares of CSX by 2.4% during the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after purchasing an additional 310 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its stake in shares of CSX by 1.0% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after purchasing an additional 313 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the subject of a number of analyst reports. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, January 10th. Raymond James reiterated an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Citigroup lowered their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Finally, BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Trading Down 0.9 %

NASDAQ CSX opened at $30.92 on Thursday. The stock has a market capitalization of $59.63 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a 52-week low of $30.62 and a 52-week high of $38.51. The firm has a 50-day moving average price of $32.53 and a 200 day moving average price of $33.66. 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 earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.68%. CSX’s dividend payout ratio (DPR) is 29.05%.

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.