Continental Investors Services Inc. Invests $11.97 Million in CSX Co. (NASDAQ:CSX)

Continental Investors Services Inc. acquired a new position in CSX Co. (NASDAQ:CSX – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 385,188 shares of the transportation company’s stock, valued at approximately $11,972,000. CSX makes up 2.7% of Continental Investors Services Inc.’s investment portfolio, making the stock its 7th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Insight Advisors LLC PA increased its stake in shares of CSX by 4.0% during the second quarter. Insight Advisors LLC PA now owns 7,847 shares of the transportation company’s stock worth $245,000 after purchasing an additional 300 shares in the last quarter. CoreFirst Bank & Trust grew its stake in CSX by 4.0% during the 2nd quarter. CoreFirst Bank & Trust now owns 7,836 shares of the transportation company’s stock valued at $228,000 after acquiring an additional 300 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its stake in CSX by 2.8% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 12,827 shares of the transportation company’s stock valued at $341,000 after acquiring an additional 350 shares in the last quarter. Colonial Trust Advisors grew its stake in CSX by 1.9% during the 3rd quarter. Colonial Trust Advisors now owns 19,187 shares of the transportation company’s stock valued at $511,000 after acquiring an additional 356 shares in the last quarter. Finally, McIlrath & Eck LLC grew its stake in CSX by 10.7% during the 3rd quarter. McIlrath & Eck LLC now owns 3,821 shares of the transportation company’s stock valued at $102,000 after acquiring an additional 369 shares in the last quarter. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock opened at $28.91 on Friday. The firm has a market cap of $59.63 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. CSX Co. has a 52-week low of $25.80 and a 52-week high of $38.17. The company has a quick ratio of 1.42, a current ratio of 1.56 and a debt-to-equity ratio of 1.42. The company’s 50 day moving average is $31.09 and its two-hundred day moving average is $30.48.

CSX (NASDAQ:CSX – Get Rating) last released its earnings results on Wednesday, January 25th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. CSX had a net margin of 28.05% and a return on equity of 31.48%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, research analysts expect that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, February 27th. This is a positive change from CSX’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.52%. CSX’s dividend payout ratio is 22.68%.

Wall Street Analysts Forecast Growth

CSX has been the subject of several research reports. Susquehanna upped their price objective on shares of CSX from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. Cowen upped their price objective on shares of CSX from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Thursday, January 26th. StockNews.com initiated coverage on shares of CSX in a research note on Friday. They set a “hold” rating for the company. Wells Fargo & Company upped their price objective on shares of CSX from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 4th. Finally, Morgan Stanley increased their price target on shares of CSX from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $34.39.

CSX Profile

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.