Concurrent Investment Advisors LLC Purchases 3,314 Shares of CSX Co. (NASDAQ:CSX)

Concurrent Investment Advisors LLC raised its position in CSX Co. (NASDAQ:CSX) by 8.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,081 shares of the transportation company’s stock after acquiring an additional 3,314 shares during the period. Concurrent Investment Advisors LLC’s holdings in CSX were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CSX. Allspring Global Investments Holdings LLC raised its stake in shares of CSX by 9.9% during the 3rd 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 period. International Assets Investment Management LLC bought a new stake in shares of CSX during the 3rd quarter valued at $5,767,000. Dakota Wealth Management raised its stake in shares of CSX by 21.9% during the 3rd quarter. Dakota Wealth Management now owns 11,778 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 2,115 shares during the period. Ballentine Partners LLC raised its stake in shares of CSX by 2.8% during the 3rd quarter. Ballentine Partners LLC now owns 43,112 shares of the transportation company’s stock valued at $1,489,000 after purchasing an additional 1,168 shares during the period. Finally, Lake Street Advisors Group LLC raised its stake in shares of CSX by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 306 shares during the period. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

CSX opened at $32.30 on Friday. The stock has a 50-day moving average price of $32.63 and a 200-day moving average price of $33.77. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. 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 stock has a market capitalization of $62.29 billion, a P/E ratio of 18.04, 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 net margin of 23.95% and a return on equity of 28.15%. Equities analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird decreased their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Susquehanna reduced their target price on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Benchmark restated a “buy” rating and set a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Barclays reduced their target price on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Loop Capital cut CSX from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

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.