Stanley Laman Group Ltd. Acquires Shares of 6,458 CSX Co. (NASDAQ:CSX)

Stanley Laman Group Ltd. acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, Holdings Channel reports. The firm acquired 6,458 shares of the transportation company’s stock, valued at approximately $224,000.

Other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of CSX in the fourth quarter valued at approximately $27,000. Life Planning Partners Inc bought a new position in shares of CSX in the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of CSX in the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC raised its position in CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after purchasing an additional 692 shares during the last quarter. Finally, Avion Wealth raised its position in CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after purchasing an additional 820 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CSX shares. Royal Bank of Canada dropped their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Susquehanna boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research report on Thursday, March 28th. Jefferies Financial Group dropped their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus upped their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

CSX Stock Down 0.1 %

NASDAQ CSX traded down $0.04 on Friday, reaching $33.99. The company had a trading volume of 10,661,942 shares, compared to its average volume of 12,369,838. The firm has a market capitalization of $66.45 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.02 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company’s fifty day moving average is $36.61 and its 200-day moving average is $34.47.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company earned $0.48 EPS. CSX’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts forecast that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.37%.

CSX 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.