Kanawha Capital Management LLC Has $1.20 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Kanawha Capital Management LLC lessened its holdings in CSX Co. (NASDAQ:CSX) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,090 shares of the transportation company’s stock after selling 716 shares during the quarter. Kanawha Capital Management LLC’s holdings in CSX were worth $1,197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CSX by 20.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after acquiring an additional 80,423 shares in the last quarter. Diversified Trust Co raised its holdings in shares of CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after acquiring an additional 46,473 shares in the last quarter. Marshall Financial Group LLC purchased a new stake in shares of CSX during the fourth quarter worth $1,084,000. Thrivent Financial for Lutherans raised its holdings in shares of 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 in the last quarter. Finally, Carnegie Investment Counsel raised its holdings in shares of CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after acquiring an additional 8,474 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ:CSX opened at $33.10 on Friday. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. The firm has a 50 day moving average of $32.77 and a 200-day moving average of $33.83. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $63.83 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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, sell-side analysts anticipate that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 26.82%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CSX. Raymond James restated an “outperform” rating and set a $37.00 target price (down from $38.00) on shares of CSX in a report on Friday, January 24th. Royal Bank of Canada cut their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Stifel Nicolaus cut their target price on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Finally, TD Cowen lowered their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average target price of $37.16.

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.