CSX Co. (NASDAQ:CSX) Position Increased by Modern Wealth Management LLC

Modern Wealth Management LLC increased its stake in shares of CSX Co. (NASDAQ:CSX) by 67.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in CSX in the 4th quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new position in CSX during the 4th quarter worth $33,000. Center for Financial Planning Inc. grew its stake in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares in the last quarter. Atala Financial Inc acquired a new position in shares of CSX during the fourth quarter valued at $36,000. Finally, Millstone Evans Group LLC acquired a new position in shares of CSX during the fourth quarter valued at $37,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Up 0.1 %

Shares of NASDAQ:CSX opened at $29.92 on Friday. The firm has a 50 day simple moving average of $31.82 and a 200 day simple moving average of $33.23. CSX Co. has a 52 week low of $28.98 and a 52 week high of $37.18. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market cap of $56.69 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, research analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on CSX shares. Stephens reiterated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Wells Fargo & Company decreased their price objective on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday. Barclays dropped their target price on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Susquehanna decreased their price target on CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research note on Thursday. Finally, Citigroup dropped their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.