CSX Co. (NASDAQ:CSX) Stake Boosted by Modern Wealth Management LLC

Modern Wealth Management LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 67.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,180 shares of the transportation company’s stock after buying an additional 6,495 shares during the quarter. Modern Wealth Management LLC’s holdings in CSX were worth $535,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of CSX during the 4th quarter worth about $31,000. Sierra Ocean LLC bought a new position in CSX during the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. raised its position in CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares in the last quarter. Atala Financial Inc acquired a new stake in CSX in the fourth quarter valued at approximately $36,000. Finally, Millstone Evans Group LLC bought a new stake in CSX in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $29.92 on Friday. CSX Co. has a 12 month low of $28.98 and a 12 month high of $37.18. The company has a market capitalization of $56.69 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.92 and a beta of 1.25. The stock has a 50 day moving average of $31.82 and a two-hundred day moving average of $33.23. 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 (NASDAQ:CSX) last issued its 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 return on equity of 28.15% and a net margin of 23.95%. As a group, equities analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is 29.05%.

Analyst Ratings Changes

CSX has been the subject of several analyst reports. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Stephens reiterated an “overweight” rating and set a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Loop Capital downgraded 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 research note on Monday, February 3rd. Royal Bank of Canada decreased their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, Barclays dropped their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

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.