EverSource Wealth Advisors LLC Raises Stock Holdings in CSX Co. (NASDAQ:CSX)

EverSource Wealth Advisors LLC raised its stake in CSX Co. (NASDAQ:CSX) by 16.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,196 shares of the transportation company’s stock after buying an additional 1,705 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in CSX were worth $394,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. increased its position in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in CSX during the 4th quarter worth $31,000. Sierra Ocean LLC acquired a new position in CSX during the 4th quarter valued at about $33,000. Center for Financial Planning Inc. raised its stake in CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in CSX in the fourth quarter worth about $39,000. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $30.01 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a market capitalization of $56.86 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.92 and a beta of 1.25. The firm’s 50 day simple moving average is $32.23 and its 200-day simple moving average is $33.49. CSX Co. has a 12 month low of $28.98 and a 12 month high of $38.03.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Analysts expect 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. Investors of record on Friday, February 28th were issued a $0.13 dividend. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. CSX’s dividend payout ratio is presently 29.05%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CSX shares. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Stephens restated an “overweight” rating and set a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Benchmark reiterated a “buy” rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price on the stock. Finally, Robert W. Baird lowered their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.00.

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.