New Century Financial Group LLC Makes New Investment in CSX Co. (NASDAQ:CSX)

New Century Financial Group LLC purchased a new stake in CSX Co. (NASDAQ:CSX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,108 shares of the transportation company’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Miracle Mile Advisors LLC grew its holdings in shares of CSX by 0.3% during the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after buying an additional 303 shares in the last quarter. High Net Worth Advisory Group LLC raised its holdings in shares of CSX by 1.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after purchasing an additional 304 shares during the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of CSX by 1.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after purchasing an additional 304 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its holdings in CSX by 0.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after purchasing an additional 309 shares during the last quarter. Finally, FCA Corp TX grew its position in CSX by 0.3% in the fourth quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock valued at $4,007,000 after purchasing an additional 339 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 $33.55 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average is $33.41 and its 200-day moving average is $35.11. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.74 and a beta of 1.20.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion for 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%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. Equities research analysts expect that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CSX shares. Royal Bank of Canada reduced their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. UBS Group lowered their price target on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Stifel Nicolaus increased their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. Wells Fargo & Company initiated coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group cut their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $37.59.

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.