Scissortail Wealth Management LLC Purchases 8,522 Shares of CSX Co. (NASDAQ:CSX)

Scissortail Wealth Management LLC lifted its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 85,220.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,532 shares of the transportation company's stock after buying an additional 8,522 shares during the period. Scissortail Wealth Management LLC's holdings in CSX were worth $275,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SeaCrest Wealth Management LLC lifted its holdings in shares of CSX by 6.5% in the 4th quarter. SeaCrest Wealth Management LLC now owns 10,892 shares of the transportation company's stock worth $351,000 after acquiring an additional 665 shares during the last quarter. Park Avenue Securities LLC raised its position in CSX by 9.0% in the 4th quarter. Park Avenue Securities LLC now owns 89,933 shares of the transportation company's stock worth $2,902,000 after purchasing an additional 7,456 shares during the period. Carnegie Investment Counsel lifted its stake in CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company's stock worth $19,751,000 after purchasing an additional 8,474 shares during the last quarter. Empirical Asset Management LLC lifted its stake in CSX by 2.3% in the fourth quarter. Empirical Asset Management LLC now owns 36,360 shares of the transportation company's stock worth $1,173,000 after purchasing an additional 825 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in CSX during the fourth quarter valued at about $139,000. Institutional investors own 73.57% of the company's stock.

CSX Price Performance

CSX stock opened at $31.32 on Friday. The firm has a 50-day moving average of $28.81 and a 200 day moving average of $31.78. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a market cap of $58.84 billion, a P/E ratio of 17.50, a PEG ratio of 1.92 and a beta of 1.22. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10.

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

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, May 30th. CSX's dividend payout ratio (DPR) is presently 31.14%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSX. Stifel Nicolaus decreased their price objective on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays decreased their price target on CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research report on Friday, March 7th. They issued a "hold" rating and a $34.00 price objective for the company. Bank of America raised their target price on shares of CSX from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Finally, UBS Group decreased their target price on shares of CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

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