Whittier Trust Co. of Nevada Inc. Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Whittier Trust Co. of Nevada Inc. grew its position in CSX Co. (NASDAQ:CSX) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,193 shares of the transportation company’s stock after buying an additional 522 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in CSX were worth $297,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CSX. Diversified Trust Co increased its position in CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares in the last quarter. Marshall Financial Group LLC purchased a new stake in CSX during the 4th quarter worth about $1,084,000. Carnegie Investment Counsel increased its position in CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after purchasing an additional 8,474 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in CSX by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after purchasing an additional 41,547 shares in the last quarter. Finally, Waycross Partners LLC increased its position in CSX by 7.0% during the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after purchasing an additional 40,611 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent research reports. Loop Capital cut CSX from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Stephens reiterated an “overweight” rating and set a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. Finally, Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Stock Performance

CSX stock opened at $29.57 on Monday. The stock’s 50 day moving average price is $32.03 and its 200 day moving average price is $33.34. The firm has a market capitalization of $56.02 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a one year low of $28.98 and a one year high of $37.40.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate 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, sell-side analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.76%. CSX’s payout ratio 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.