New England Asset Management Inc. Acquires 77,655 Shares of CSX Co. (NASDAQ:CSX)

New England Asset Management Inc. increased its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 135.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,115 shares of the transportation company's stock after acquiring an additional 77,655 shares during the quarter. New England Asset Management Inc.'s holdings in CSX were worth $4,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX in the 4th quarter worth about $27,000. Accredited Wealth Management LLC bought a new stake in CSX in the 4th quarter worth about $29,000. SBI Securities Co. Ltd. bought a new stake in CSX in the 4th quarter worth about $31,000. Sierra Ocean LLC bought a new stake in CSX in the 4th quarter worth about $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in CSX by 219.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock worth $34,000 after buying an additional 714 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of NASDAQ:CSX traded up $0.02 during midday trading on Friday, reaching $31.32. 11,393,691 shares of the company were exchanged, compared to its average volume of 12,832,280. The stock has a market cap of $58.84 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The business's fifty day moving average is $28.77 and its two-hundred day moving average is $31.79. CSX Co. has a one year low of $26.22 and a one year 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.

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

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.66%. CSX's dividend payout ratio is currently 31.14%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup reduced their price objective on CSX from $39.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Argus set a $32.00 target price on CSX in a report on Friday, April 25th. Benchmark reaffirmed a "buy" rating and set a $35.00 price target on shares of CSX in a research report on Thursday, April 17th. Bank of America lifted their price target on shares of CSX from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Wells Fargo & Company reduced their price objective on CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research note 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.90.

About CSX

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.