Forum Financial Management LP Acquires 1,080 Shares of CSX Co. (NASDAQ:CSX)

Forum Financial Management LP grew its stake in shares of CSX Co. (NASDAQ:CSX) by 5.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,096 shares of the transportation company’s stock after purchasing an additional 1,080 shares during the period. Forum Financial Management LP’s holdings in CSX were worth $648,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. SBI Securities Co. Ltd. bought a new position in CSX during the 4th quarter valued at $31,000. Sierra Ocean LLC bought a new stake in CSX in the 4th quarter worth about $33,000. Center for Financial Planning Inc. increased its stake in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of CSX by 216.2% during the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock worth $35,000 after buying an additional 746 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in shares of CSX in the 4th quarter worth approximately $36,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 1.1 %

NASDAQ CSX opened at $27.64 on Friday. The stock’s 50-day simple moving average is $30.07 and its two-hundred day simple moving average is $32.49. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. 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 company has a market capitalization of $52.09 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.88%. CSX’s dividend payout ratio is currently 31.14%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CSX shares. Bank of America cut their price objective on CSX from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday. UBS Group decreased their price objective on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada dropped their target price on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Thursday. Stifel Nicolaus lowered their price target on shares of CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.95.

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.