Deseret Mutual Benefit Administrators Acquires 440 Shares of CSX Co. (NASDAQ:CSX)

Deseret Mutual Benefit Administrators lifted its holdings in CSX Co. (NASDAQ:CSX) by 3.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,791 shares of the transportation company’s stock after acquiring an additional 440 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in CSX were worth $413,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in CSX by 9.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 322,810 shares of the transportation company’s stock valued at $11,147,000 after purchasing an additional 29,161 shares during the last quarter. International Assets Investment Management LLC bought a new stake in CSX during the 3rd quarter valued at $5,767,000. DT Investment Partners LLC boosted its position in CSX by 17.0% during the 3rd quarter. DT Investment Partners LLC now owns 4,740 shares of the transportation company’s stock valued at $164,000 after buying an additional 690 shares during the period. Dakota Wealth Management grew its holdings in CSX by 21.9% in the 3rd quarter. Dakota Wealth Management now owns 11,778 shares of the transportation company’s stock worth $407,000 after acquiring an additional 2,115 shares during the last quarter. Finally, Busey Bank increased its position in shares of CSX by 1.1% in the third quarter. Busey Bank now owns 29,920 shares of the transportation company’s stock valued at $1,033,000 after acquiring an additional 328 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CSX shares. Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of CSX in a report on Monday, January 27th. Robert W. Baird dropped their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. BMO Capital Markets reduced their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company cut their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.16.

CSX Price Performance

Shares of CSX opened at $32.30 on Friday. The firm’s 50-day simple moving average is $32.63 and its two-hundred day simple moving average is $33.77. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The stock has a market cap of $62.29 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. 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 posted 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 net margin of 23.95% and a return on equity of 28.15%. Analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 26.82%.

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.