Strategies Wealth Advisors LLC acquired a new stake in CSX Co. (NASDAQ:CSX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 16,548 shares of the transportation company's stock, valued at approximately $546,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Wellington Management Group LLP raised its holdings in CSX by 6.3% in the 3rd quarter. Wellington Management Group LLP now owns 102,550 shares of the transportation company's stock valued at $3,541,000 after acquiring an additional 6,055 shares during the last quarter. Tudor Financial Inc. purchased a new position in CSX during the third quarter worth about $473,000. Sanctuary Advisors LLC grew its stake in shares of CSX by 10.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 166,381 shares of the transportation company's stock valued at $5,953,000 after buying an additional 16,073 shares during the period. World Investment Advisors LLC increased its holdings in shares of CSX by 137.4% during the 3rd quarter. World Investment Advisors LLC now owns 16,145 shares of the transportation company's stock worth $557,000 after buying an additional 9,344 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in CSX by 260.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 24,970 shares of the transportation company's stock worth $862,000 after acquiring an additional 18,049 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CSX. Barclays cut their price objective on CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on CSX in a research note on Friday, March 7th. They set a "hold" rating and a $34.00 price target on the stock. Benchmark reiterated a "buy" rating and issued a $35.00 price objective on shares of CSX in a report on Thursday. Wells Fargo & Company lowered their target price on CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a report on Thursday. Finally, Raymond James reissued an "outperform" rating and set a $33.00 price target (down previously from $34.00) on shares of CSX in a research report on Thursday. Seven 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $33.95.
Read Our Latest Research Report on CSX
CSX Stock Up 1.1 %
Shares of NASDAQ CSX traded up $0.29 during midday trading on Friday, reaching $27.64. 21,437,293 shares of the company's stock were exchanged, compared to its average volume of 12,674,381. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The business's fifty day moving average price is $30.07 and its two-hundred day moving average price is $32.50. The stock has a market capitalization of $52.09 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.
CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. Analysts forecast that CSX Co. will post 1.83 EPS for the current year.
CSX Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.88%. CSX's payout ratio is 31.14%.
About CSX
(
Free Report)
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.
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