Yoffe Investment Management LLC Acquires New Stake in CSX Co. (NASDAQ:CSX)

Yoffe Investment Management LLC acquired a new position in shares of CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 31,770 shares of the transportation company’s stock, valued at approximately $1,025,000. CSX comprises about 1.0% of Yoffe Investment Management LLC’s holdings, making the stock its 26th biggest position.

Several other hedge funds also recently made changes to their positions in CSX. SBI Securities Co. Ltd. acquired a new position in CSX during the fourth quarter worth $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX during the 4th quarter worth $33,000. Center for Financial Planning Inc. grew its stake in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of CSX by 216.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 746 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of CSX in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSX. Raymond James reaffirmed an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a report on Friday, January 24th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Susquehanna lowered their target price on CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a report on Thursday, March 27th. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Finally, Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CSX Price Performance

Shares of NASDAQ:CSX opened at $27.99 on Friday. The company has a market cap of $52.75 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.92 and a beta of 1.22. The business has a fifty day simple moving average of $31.43 and a 200-day simple moving average of $33.08. CSX Co. has a 52 week low of $27.82 and a 52 week high of $37.10. The company has a quick ratio of 1.23, a current ratio of 0.86 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 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities research analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 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.