B. Riley Wealth Advisors Inc. Has $3.89 Million Holdings in CSX Co. (NASDAQ:CSX)

B. Riley Wealth Advisors Inc. trimmed its holdings in CSX Co. (NASDAQ:CSX) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,216 shares of the transportation company’s stock after selling 10,131 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in CSX were worth $3,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CSX. Brass Tax Wealth Management Inc. boosted its holdings in CSX by 3.5% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 13,000 shares of the transportation company’s stock valued at $449,000 after purchasing an additional 444 shares during the period. Beaird Harris Wealth Management LLC raised its position in shares of CSX by 6,689.2% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,512 shares of the transportation company’s stock valued at $87,000 after buying an additional 2,475 shares during the last quarter. Franklin Resources Inc. raised its position in shares of CSX by 9.2% during the third quarter. Franklin Resources Inc. now owns 1,350,289 shares of the transportation company’s stock valued at $47,652,000 after buying an additional 113,530 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of CSX by 9.2% in the third quarter. Tidal Investments LLC now owns 194,760 shares of the transportation company’s stock valued at $6,725,000 after buying an additional 16,456 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its position in CSX by 260.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 24,970 shares of the transportation company’s stock worth $862,000 after buying an additional 18,049 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CSX shares. Stifel Nicolaus reduced their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company cut their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Stephens dropped their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, Susquehanna reduced their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Stock Down 1.3 %

NASDAQ CSX opened at $33.24 on Friday. The stock’s 50 day simple moving average is $34.77 and its 200 day simple moving average is $34.09. CSX Co. has a one year low of $31.74 and a one year high of $40.12. The firm has a market cap of $64.10 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the company posted $0.42 EPS. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, November 29th. CSX’s payout ratio is presently 25.81%.

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.