Riverwater Partners LLC Buys Shares of 14,415 CSX Co. (NASDAQ:CSX)

Riverwater Partners LLC purchased a new position in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 14,415 shares of the transportation company’s stock, valued at approximately $465,000.

Several other institutional investors have also recently made changes to their positions in CSX. State Street Corp lifted its holdings in CSX by 0.6% during the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after buying an additional 455,258 shares during the period. Geode Capital Management LLC boosted its position in CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after purchasing an additional 726,507 shares in the last quarter. Fisher Asset Management LLC grew its stake in CSX by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after purchasing an additional 299,536 shares during the last quarter. Norges Bank bought a new position in CSX in the fourth quarter worth about $780,194,000. Finally, Bank of New York Mellon Corp lifted its position in shares of CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 2.8 %

Shares of CSX opened at $27.21 on Friday. The company has a market capitalization of $51.28 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.92 and a beta of 1.22. CSX Co. has a 52 week low of $26.95 and a 52 week high of $37.10. The stock’s 50-day moving average price is $31.32 and its 200-day moving average price is $33.04. 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 issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. On average, sell-side analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. CSX’s payout ratio is presently 29.05%.

Analyst Ratings Changes

CSX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price objective for the company. Royal Bank of Canada lowered their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Citigroup reduced their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Barclays lowered their price target on CSX from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.20.

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.