Choate Investment Advisors Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Choate Investment Advisors boosted its holdings in CSX Co. (NASDAQ:CSX) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,257 shares of the transportation company’s stock after purchasing an additional 1,417 shares during the quarter. Choate Investment Advisors’ holdings in CSX were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CSX. Diversified Trust Co grew its stake in shares of CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares during the period. Marshall Financial Group LLC purchased a new stake in CSX during the fourth quarter valued at about $1,084,000. Thrivent Financial for Lutherans increased its stake in CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after acquiring an additional 24,430 shares during the last quarter. Carnegie Investment Counsel raised its holdings in shares of CSX by 1.4% in the 4th 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 period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of CSX by 6.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after purchasing an additional 41,547 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $30.01 on Monday. 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 Co. has a 1 year low of $28.98 and a 1 year high of $38.03. The firm’s 50-day simple moving average is $32.23 and its 200-day simple moving average is $33.49. The firm has a market cap of $56.86 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.73%. CSX’s dividend payout ratio (DPR) is 29.05%.

Analysts Set New Price Targets

Several research analysts recently commented on CSX shares. Raymond James restated an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, January 10th. Citigroup lowered their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price objective on the stock. Finally, Royal Bank of Canada lowered their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average target price of $37.00.

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.