Flagship Wealth Advisors LLC Acquires New Position in CSX Co. (NASDAQ:CSX)

Flagship Wealth Advisors LLC bought a new stake in CSX Co. (NASDAQ:CSX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,880 shares of the transportation company's stock, valued at approximately $383,000.

A number of other large investors have also recently bought and sold shares of CSX. OneDigital Investment Advisors LLC raised its holdings in shares of CSX by 0.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 68,011 shares of the transportation company's stock valued at $2,348,000 after purchasing an additional 522 shares during the period. Empowered Funds LLC boosted its stake in shares of CSX by 20.0% during the 3rd quarter. Empowered Funds LLC now owns 189,366 shares of the transportation company's stock worth $6,539,000 after acquiring an additional 31,604 shares during the period. Natixis Advisors LLC increased its holdings in shares of CSX by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 659,958 shares of the transportation company's stock worth $22,788,000 after acquiring an additional 90,800 shares during the last quarter. KPP Advisory Services LLC bought a new position in CSX in the 3rd quarter valued at about $201,000. Finally, Spinnaker Investment Group LLC acquired a new stake in CSX during the 3rd quarter worth approximately $215,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CSX shares. Barclays dropped their target price on shares of CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Loop Capital lowered CSX from a "buy" rating to a "hold" rating and reduced their price objective for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Raymond James reissued an "outperform" rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Stephens reiterated an "overweight" rating and set a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Finally, Benchmark reaffirmed a "buy" rating and set a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $37.00.

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CSX Stock Down 1.4 %

CSX traded down $0.41 during trading on Friday, hitting $29.57. 25,368,757 shares of the company's stock were exchanged, compared to its average volume of 11,734,266. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $38.03. The stock has a market cap of $56.02 billion, a P/E ratio of 16.52, a PEG ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The business's 50 day moving average is $32.07 and its two-hundred day moving average is $33.39.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Friday, February 28th. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is 29.05%.

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.