CSX Co. (NASDAQ:CSX) Shares Bought by Wedmont Private Capital

Wedmont Private Capital grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 7.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,138 shares of the transportation company’s stock after purchasing an additional 1,109 shares during the period. Wedmont Private Capital’s holdings in CSX were worth $544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of CSX during the fourth quarter worth $27,000. Life Planning Partners Inc acquired a new stake in shares of CSX in the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CSX in the 4th quarter worth about $34,000. Burkett Financial Services LLC acquired a new stake in shares of CSX in the 4th quarter worth about $34,000. Finally, Avion Wealth increased its holdings in shares of CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after acquiring an additional 820 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX opened at $33.41 on Friday. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a 50-day moving average of $33.61 and a two-hundred day moving average of $35.12. The stock has a market cap of $65.31 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.72 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company posted $0.48 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts expect that CSX Co. will post 1.96 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s payout ratio is 26.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. Royal Bank of Canada dropped their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Jefferies Financial Group dropped their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Bank of America lowered their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Susquehanna raised their target price on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.82.

CSX Company 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.