Harvest Fund Management Co. Ltd Purchases 24,187 Shares of CSX Co. (NASDAQ:CSX)

Harvest Fund Management Co. Ltd lifted its stake in CSX Co. (NASDAQ:CSX) by 27.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 113,492 shares of the transportation company’s stock after buying an additional 24,187 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in CSX were worth $3,645,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CSX. SBI Securities Co. Ltd. acquired a new position in shares of CSX in the 4th quarter worth approximately $31,000. Sierra Ocean LLC acquired a new position in shares of CSX in the 4th quarter worth approximately $33,000. Center for Financial Planning Inc. raised its holdings in shares of CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares in the last quarter. Atala Financial Inc acquired a new position in shares of CSX in the 4th quarter worth approximately $36,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of CSX in the 4th quarter worth approximately $39,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Down 0.2 %

NASDAQ:CSX opened at $30.26 on Wednesday. CSX Co. has a 12-month low of $28.98 and a 12-month high of $38.03. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $57.33 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.92 and a beta of 1.25. The stock’s fifty day simple moving average is $32.16 and its 200-day simple moving average is $33.44.

CSX (NASDAQ:CSX) last posted its quarterly earnings results 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 expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSX. Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of CSX in a report on Monday, January 27th. Barclays dropped their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Royal Bank of Canada dropped their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Seven 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.