Lee Danner & Bass Inc. Makes New Investment in CSX Co. (NASDAQ:CSX)

Lee Danner & Bass Inc. bought a new stake in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 5,494 shares of the transportation company’s stock, valued at approximately $177,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. SBI Securities Co. Ltd. purchased a new position in shares of CSX during the 4th quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new position in shares of CSX during the 4th quarter valued at approximately $33,000. Center for Financial Planning Inc. boosted its stake in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the last quarter. Atala Financial Inc purchased a new position in shares of CSX during the 4th quarter valued at approximately $36,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of CSX during the 4th quarter valued at approximately $39,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $29.57 on Friday. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $38.03. The firm’s 50-day simple moving average is $32.03 and its 200 day simple moving average is $33.36. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a market cap of $56.02 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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 analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. 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 dividend yield of 1.76%. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is currently 29.05%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Raymond James reaffirmed an “outperform” rating and issued a $37.00 price objective (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Wells Fargo & Company decreased their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Finally, Citigroup decreased their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.