4,005 Shares in CSX Co. (NASDAQ:CSX) Acquired by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners purchased a new position in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,005 shares of the transportation company’s stock, valued at approximately $139,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in CSX by 416.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock worth $155,912,000 after purchasing an additional 4,089,150 shares during the last quarter. Lazard Asset Management LLC grew its position in CSX by 10.4% in the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after buying an additional 2,748,738 shares during the last quarter. PNC Financial Services Group Inc. raised its position in CSX by 68.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the transportation company’s stock worth $160,970,000 after buying an additional 2,119,965 shares during the last quarter. Barclays PLC boosted its holdings in shares of CSX by 29.0% in the third quarter. Barclays PLC now owns 7,160,597 shares of the transportation company’s stock valued at $220,189,000 after acquiring an additional 1,609,942 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in CSX by 43.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock worth $146,128,000 after purchasing an additional 1,446,685 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $34.62 on Tuesday. The firm has a fifty day moving average of $36.83 and a 200-day moving average of $34.43. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The firm has a market capitalization of $67.68 billion, a P/E ratio of 19.02, a PEG ratio of 2.05 and a beta of 1.18. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. CSX’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, analysts predict that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

Analysts Set New Price Targets

Several analysts recently commented on CSX shares. StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Royal Bank of Canada lowered their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Jefferies Financial Group cut their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Finally, Stifel Nicolaus boosted their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and twelve 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 an average price target of $38.00.

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.