VELA Investment Management LLC Buys 46,950 Shares of CSX Co. (NASDAQ:CSX)

VELA Investment Management LLC increased its stake in shares of CSX Co. (NASDAQ:CSX) by 139.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,535 shares of the transportation company’s stock after acquiring an additional 46,950 shares during the quarter. VELA Investment Management LLC’s holdings in CSX were worth $2,599,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Valley Wealth Managers Inc. increased its stake in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of CSX during the 4th quarter valued at approximately $33,000. Center for Financial Planning Inc. grew its holdings in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 720 shares in the last quarter. Addison Advisors LLC increased its position in CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new stake in CSX during the fourth quarter valued at $39,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

CSX stock opened at $32.01 on Friday. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $38.61. The company has a market capitalization of $61.73 billion, a PE ratio of 17.88, a P/E/G ratio of 1.92 and a beta of 1.23. The company has a 50 day moving average price of $32.60 and a 200-day moving average price of $33.71. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. CSX’s dividend payout ratio is 29.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Barclays dropped their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. BMO Capital Markets decreased their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Citigroup dropped their target price on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Royal Bank of Canada decreased their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Six research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

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.