Life Planning Partners Inc Makes New Investment in CSX Co. (NASDAQ:CSX)

Life Planning Partners Inc acquired a new position in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 25,171 shares of the transportation company’s stock, valued at approximately $780,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. boosted its stake in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the period. Morton Brown Family Wealth LLC acquired a new stake in shares of CSX during the 3rd quarter valued at $31,000. Addison Advisors LLC boosted its stake in shares of CSX by 348.5% during the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares during the period. Fortitude Family Office LLC boosted its stake in shares of CSX by 43.4% during the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of CSX during the 4th quarter valued at $39,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSX. Stephens reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Royal Bank of Canada reduced their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company reduced their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Barclays reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Robert W. Baird reduced their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Performance

NASDAQ:CSX opened at $33.37 on Friday. The firm’s 50-day moving average is $32.74 and its 200-day moving average is $33.83. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market cap of $64.35 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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%. Equities research analysts anticipate that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is presently 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.