Naples Global Advisors LLC Buys 3,031 Shares of CSX Co. (NASDAQ:CSX)

Naples Global Advisors LLC lifted its stake in CSX Co. (NASDAQ:CSX) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 99,177 shares of the transportation company’s stock after buying an additional 3,031 shares during the period. Naples Global Advisors LLC’s holdings in CSX were worth $3,200,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CSX. Valley Wealth Managers Inc. grew its holdings 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 worth $26,000 after purchasing an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new stake in CSX during the third quarter worth $31,000. Addison Advisors LLC increased its holdings 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 buying an additional 812 shares during the period. Fortitude Family Office LLC raised its stake in shares of CSX by 43.4% in 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 in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in CSX in the fourth quarter worth about $41,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock opened at $32.92 on Thursday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $63.48 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. The stock has a 50-day moving average price of $32.82 and a two-hundred day moving average price of $33.84. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last released its 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 net margin of 23.95% and a return on equity of 28.15%. Equities analysts forecast that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 26.82%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CSX shares. Benchmark reiterated a “buy” rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Stephens reissued an “overweight” rating and issued a $38.00 target price on shares of CSX in a report on Friday, January 24th. JPMorgan Chase & Co. cut 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. Royal Bank of Canada decreased their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, Barclays decreased their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

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.