Wallace Advisory Group LLC Invests $240,000 in CSX Co. (NASDAQ:CSX)

Wallace Advisory Group LLC purchased a new stake in CSX Co. (NASDAQ:CSX) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,921 shares of the transportation company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also modified their holdings of CSX. Fortitude Family Office LLC acquired a new stake in shares of CSX during the 4th quarter worth $27,000. Life Planning Partners Inc acquired a new stake in CSX during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX in the 1st quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of CSX in the 4th quarter valued at approximately $34,000. Finally, Burkett Financial Services LLC bought a new stake in shares of CSX during the 4th quarter worth approximately $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CSX. Wells Fargo & Company assumed coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX 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 for the company in a research note on Thursday, April 18th. Bank of America decreased 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, Royal Bank of Canada lowered their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

CSX Trading Down 1.5 %

CSX opened at $32.71 on Wednesday. The company has a market cap of $63.95 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.72 and a beta of 1.19. The company has a fifty day moving average price of $33.53 and a two-hundred day moving average price of $35.14. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12.

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

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s payout ratio is currently 26.37%.

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.