BankPlus Trust Department Acquires Shares of 6,130 CSX Co. (NASDAQ:CSX)

BankPlus Trust Department acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,130 shares of the transportation company’s stock, valued at approximately $198,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Valley Wealth Managers Inc. lifted its stake in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new stake in shares of CSX during the third quarter valued at about $31,000. Sierra Ocean LLC acquired a new stake in shares of CSX during the fourth quarter valued at about $33,000. Addison Advisors LLC increased its position in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares during the last quarter. Finally, Center for Financial Planning Inc. increased its position in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $31.81 on Tuesday. The stock’s 50-day simple moving average is $32.61 and its 200-day simple moving average is $33.75. The firm has a market capitalization of $61.34 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $38.70. 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 (NASDAQ:CSX) last released its quarterly earnings data 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 return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.63%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSX. JPMorgan Chase & Co. dropped their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company dropped their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Robert W. Baird dropped their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Susquehanna dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

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.