Novem Group Purchases New Position in CSX Co. (NASDAQ:CSX)

Novem Group acquired a new stake in CSX Co. (NASDAQ:CSX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 28,208 shares of the transportation company's stock, valued at approximately $910,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSX. Joel Isaacson & Co. LLC boosted its position in shares of CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock worth $421,000 after buying an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in shares of CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company's stock worth $1,027,000 after purchasing an additional 313 shares during the period. West Branch Capital LLC lifted its holdings in shares of CSX by 3.3% during the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company's stock valued at $333,000 after acquiring an additional 332 shares in the last quarter. Trust Point Inc. boosted its holdings in CSX by 2.6% in the 4th quarter. Trust Point Inc. now owns 13,722 shares of the transportation company's stock worth $443,000 after acquiring an additional 344 shares during the period. Finally, Secure Asset Management LLC grew its stake in shares of CSX by 2.1% during the fourth quarter. Secure Asset Management LLC now owns 17,195 shares of the transportation company's stock valued at $555,000 after acquiring an additional 357 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the topic of several research reports. Bank of America upped their price objective on CSX from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Stifel Nicolaus lowered their price objective on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Raymond James restated an "outperform" rating and set a $33.00 price target (down from $34.00) on shares of CSX in a report on Thursday, April 17th. UBS Group lowered their target price on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays cut their price target on shares of CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average target price of $33.90.

CSX Price Performance

CSX traded up $0.54 during midday trading on Tuesday, reaching $31.36. 5,025,992 shares of the company's stock were exchanged, compared to its average volume of 12,913,815. 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 business has a 50-day simple moving average of $28.92 and a two-hundred day simple moving average of $31.59. The firm has a market capitalization of $58.90 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. CSX Co. has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.66%. CSX's dividend payout ratio is currently 31.14%.

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.