Wharton Business Group LLC Purchases 6,830 Shares of CSX Co. (NASDAQ:CSX)

Wharton Business Group LLC lifted its holdings in shares of CSX Co. (NASDAQ:CSX) by 5.7% during the 4th quarter, Holdings Channel reports. The firm owned 126,685 shares of the transportation company’s stock after purchasing an additional 6,830 shares during the quarter. Wharton Business Group LLC’s holdings in CSX were worth $4,088,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Valley Wealth Managers Inc. grew its stake in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the period. Morton Brown Family Wealth LLC acquired a new position in CSX during the third quarter worth $31,000. Sierra Ocean LLC bought a new position in shares of CSX in the fourth quarter valued at $33,000. Addison Advisors LLC grew its holdings in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares during the last quarter. Finally, Center for Financial Planning Inc. increased its position in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after acquiring an additional 720 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 0.5 %

Shares of CSX stock opened at $32.30 on Monday. The business has a 50-day moving average of $32.63 and a 200 day moving average of $33.77. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12. The stock has a market capitalization of $62.29 billion, a PE ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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, sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CSX shares. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Susquehanna cut their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Royal Bank of Canada cut their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Finally, Stephens restated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently 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.