Envestnet Asset Management Inc. Grows Position in CSX Co. (NASDAQ:CSX)

Envestnet Asset Management Inc. lifted its holdings in CSX Co. (NASDAQ:CSX) by 16.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,104,626 shares of the transportation company’s stock after buying an additional 435,769 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of CSX worth $100,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Diversified Trust Co grew its holdings in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares in the last quarter. Marshall Financial Group LLC acquired a new position in shares of CSX during the 4th quarter valued at about $1,084,000. Carnegie Investment Counsel boosted its position in shares of CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after acquiring an additional 8,474 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of CSX by 6.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after purchasing an additional 41,547 shares during the period. Finally, Waycross Partners LLC increased its position in CSX by 7.0% during the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after purchasing an additional 40,611 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 1.5 %

CSX opened at $26.69 on Wednesday. The business has a fifty day moving average price of $30.94 and a 200 day moving average price of $32.87. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 12 month low of $26.22 and a 12 month high of $37.10. The stock has a market capitalization of $50.30 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.92 and a beta of 1.23.

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 return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors 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 dividend yield of 1.95%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is presently 29.05%.

Analyst Ratings Changes

CSX has been the subject of several analyst reports. Barclays dropped their price target on shares of CSX from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. 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 $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday. Stephens reiterated an “overweight” rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Finally, Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.05.

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.