Summit Financial LLC Has $956,000 Stake in CSX Co. (NASDAQ:CSX)

Summit Financial LLC raised its position in shares of CSX Co. (NASDAQ:CSX) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,634 shares of the transportation company’s stock after acquiring an additional 3,436 shares during the period. Summit Financial LLC’s holdings in CSX were worth $956,000 as of its most recent SEC filing.

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

CSX Price Performance

Shares of CSX stock opened at $29.74 on Thursday. The firm has a market cap of $56.05 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.92 and a beta of 1.22. CSX Co. has a 12 month low of $28.78 and a 12 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 stock has a 50-day moving average price of $31.54 and a 200 day moving average price of $33.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

Analyst Ratings Changes

CSX has been the topic of several recent research reports. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. UBS Group lowered their price target on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Robert W. Baird lowered their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, 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 report on Wednesday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $36.20.

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.