VELA Investment Management LLC Buys 46,950 Shares of CSX Co. (NASDAQ:CSX)

VELA Investment Management LLC boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 139.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,535 shares of the transportation company’s stock after buying an additional 46,950 shares during the period. VELA Investment Management LLC’s holdings in CSX were worth $2,599,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Valley Wealth Managers Inc. lifted its stake in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares in the last quarter. Sierra Ocean LLC purchased a new position in CSX in the 4th quarter worth approximately $33,000. Center for Financial Planning Inc. lifted its position in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares in the last quarter. Addison Advisors LLC lifted its position in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new stake in CSX during the 4th quarter valued at $39,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BMO Capital Markets lowered their price target on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Citigroup lowered their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, January 10th. Barclays decreased their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average price target of $37.16.

CSX Trading Up 0.1 %

Shares of NASDAQ:CSX opened at $32.01 on Friday. The stock has a 50 day moving average of $32.60 and a 200 day moving average of $33.71. The company has a market cap of $61.73 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. CSX Co. has a 12-month low of $31.43 and a 12-month high of $38.61. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its quarterly earnings results 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 return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is presently 29.05%.

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.