Landing Point Financial Group LLC Purchases New Holdings in CSX Co. (NASDAQ:CSX)

Landing Point Financial Group LLC bought a new stake in shares of CSX Co. (NASDAQ:CSX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,403 shares of the transportation company's stock, valued at approximately $639,000. CSX makes up approximately 0.5% of Landing Point Financial Group LLC's holdings, making the stock its 28th biggest holding.

A number of other institutional investors have also recently made changes to their positions in CSX. Tudor Financial Inc. purchased a new position in shares of CSX during the 3rd quarter worth about $473,000. World Investment Advisors LLC lifted its stake in shares of CSX by 137.4% during the 3rd quarter. World Investment Advisors LLC now owns 16,145 shares of the transportation company's stock worth $557,000 after acquiring an additional 9,344 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in CSX by 260.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 24,970 shares of the transportation company's stock worth $862,000 after purchasing an additional 18,049 shares during the period. Tidal Investments LLC increased its stake in CSX by 9.2% in the third quarter. Tidal Investments LLC now owns 194,760 shares of the transportation company's stock worth $6,725,000 after purchasing an additional 16,456 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in CSX by 9.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,350,289 shares of the transportation company's stock valued at $47,652,000 after buying an additional 113,530 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Price Performance

Shares of CSX stock traded down $0.38 during trading hours on Friday, reaching $27.77. The stock had a trading volume of 6,257,558 shares, compared to its average volume of 12,661,994. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. 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 has a market capitalization of $52.16 billion, a PE ratio of 15.50, a PEG ratio of 1.92 and a beta of 1.23. The stock's 50 day moving average is $29.63 and its 200 day moving average is $32.33.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities analysts expect 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 was paid on Friday, March 14th. Investors 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 yield of 1.87%. This is a boost from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is currently 31.14%.

Analyst Ratings Changes

CSX has been the topic of several research reports. Loop Capital lowered CSX from a "buy" rating to a "hold" rating and cut their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Evercore ISI decreased their price objective on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their target price on CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Bank of America decreased their price target on CSX from $33.00 to $30.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, UBS Group cut their price objective on shares of CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.95.

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.