Penobscot Investment Management Company Inc. Has $2.63 Million Stock Position in CSX Co. (NASDAQ:CSX)

Penobscot Investment Management Company Inc. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,412 shares of the transportation company’s stock after selling 10,800 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in CSX were worth $2,627,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in CSX in the 4th quarter valued at $31,000. Sierra Ocean LLC acquired a new position in shares of CSX during the fourth quarter valued at about $33,000. Center for Financial Planning Inc. lifted its stake in shares of CSX by 205.7% in the fourth 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 period. Atala Financial Inc acquired a new stake in CSX during the fourth quarter worth about $36,000. Finally, Millstone Evans Group LLC bought a new position in CSX during the fourth quarter valued at about $37,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of CSX stock opened at $29.53 on Wednesday. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.18. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm’s 50 day moving average is $31.93 and its 200-day moving average is $33.28. The firm has a market capitalization of $55.95 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced 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 net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. CSX’s dividend payout ratio is presently 29.05%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Benchmark restated a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 price target on the stock. Raymond James reaffirmed an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Citigroup lowered their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Wells Fargo & Company cut their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.