6,279 Shares in CSX Co. (NASDAQ:CSX) Bought by Palacios Wealth Management LLC

Palacios Wealth Management LLC purchased a new position in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,279 shares of the transportation company’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently added to or reduced their stakes in CSX. Compagnie Lombard Odier SCmA raised its position in CSX by 2.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 975,544 shares of the transportation company’s stock worth $31,481,000 after acquiring an additional 19,873 shares during the period. Asset Management One Co. Ltd. raised its position in CSX by 3.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 752,788 shares of the transportation company’s stock worth $24,435,000 after acquiring an additional 22,971 shares during the period. Buckhead Capital Management LLC acquired a new position in CSX during the fourth quarter worth $2,338,000. Life Planning Partners Inc acquired a new position in CSX during the fourth quarter worth $780,000. Finally, Hemington Wealth Management raised its position in CSX by 14.6% during the fourth quarter. Hemington Wealth Management now owns 2,865 shares of the transportation company’s stock worth $92,000 after acquiring an additional 365 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 0.5 %

Shares of CSX opened at $33.10 on Friday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The firm has a 50-day moving average price of $32.77 and a 200 day moving average price of $33.83. The firm has a market capitalization of $63.83 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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%. Sell-side analysts forecast that CSX Co. will post 1.86 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued 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 positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 26.82%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSX. Barclays reduced their price objective 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. Wells Fargo & Company reduced their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Stephens restated an “overweight” rating and set a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Finally, Stifel Nicolaus reduced their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus 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.