EverSource Wealth Advisors LLC Boosts Stake in CSX Co. (NASDAQ:CSX)

EverSource Wealth Advisors LLC raised its position in shares of CSX Co. (NASDAQ:CSX) by 16.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in CSX by 13.8% in the third quarter. Victory Capital Management Inc. now owns 1,957,688 shares of the transportation company’s stock worth $67,599,000 after purchasing an additional 238,079 shares during the last quarter. Planning Capital Management Corp increased its holdings in shares of CSX by 16.4% in the 3rd quarter. Planning Capital Management Corp now owns 2,237 shares of the transportation company’s stock worth $77,000 after buying an additional 316 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of CSX by 1.2% in the 3rd quarter. Metis Global Partners LLC now owns 63,455 shares of the transportation company’s stock worth $2,191,000 after buying an additional 729 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of CSX by 6.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 49,306 shares of the transportation company’s stock valued at $1,703,000 after buying an additional 2,929 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in shares of CSX by 0.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 68,011 shares of the transportation company’s stock valued at $2,348,000 after acquiring an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of a number of recent research reports. Barclays decreased their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 price target for the company. Benchmark reiterated a “buy” rating and set a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Trading Up 3.0 %

Shares of NASDAQ CSX opened at $30.01 on Friday. CSX Co. has a twelve month low of $28.98 and a twelve month high of $38.03. The firm has a market cap of $56.86 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The business has a fifty day simple moving average of $32.23 and a two-hundred day simple moving average of $33.49. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is presently 29.05%.

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.