New England Research & Management Inc. Has $3.36 Million Position in CSX Co. (NASDAQ:CSX)

New England Research & Management Inc. increased its position in shares of CSX Co. (NASDAQ:CSX) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,110 shares of the transportation company’s stock after purchasing an additional 2,100 shares during the period. CSX makes up about 1.7% of New England Research & Management Inc.’s portfolio, making the stock its 13th biggest holding. New England Research & Management Inc.’s holdings in CSX were worth $3,358,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX during the 4th quarter worth $27,000. Accredited Wealth Management LLC acquired a new stake in CSX in the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC bought a new position in CSX during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in CSX during the 4th quarter worth about $31,000. Finally, Sierra Ocean LLC acquired a new position in shares of CSX during the 4th quarter valued at $33,000. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Benchmark reissued a “buy” rating and set a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. BMO Capital Markets reduced their price target on shares of CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Jefferies Financial Group lowered their target price on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. UBS Group dropped their price target on shares of CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company cut their target price on CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.

CSX Stock Performance

CSX stock opened at $32.12 on Friday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market cap of $60.34 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.92 and a beta of 1.24. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10. The firm has a 50-day moving average of $29.73 and a 200-day moving average of $31.27.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Sell-side analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Friday, May 30th. CSX’s dividend payout ratio is currently 31.14%.

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.