Ritholtz Wealth Management Buys 2,405 Shares of CSX Co. (NASDAQ:CSX)

Ritholtz Wealth Management boosted its holdings in CSX Co. (NASDAQ:CSX) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 91,049 shares of the transportation company’s stock after acquiring an additional 2,405 shares during the quarter. Ritholtz Wealth Management’s holdings in CSX were worth $3,157,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CSX. Bornite Capital Management LP acquired a new stake in CSX in the 1st quarter valued at $14,980,000. Mirae Asset Global Investments Co. Ltd. grew its position in CSX by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock valued at $230,637,000 after purchasing an additional 347,514 shares during the period. Blair William & Co. IL grew its position in CSX by 12.7% in the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock valued at $4,581,000 after purchasing an additional 13,829 shares during the period. Sei Investments Co. grew its position in CSX by 4.5% in the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock valued at $7,361,000 after purchasing an additional 8,488 shares during the period. Finally, Cetera Investment Advisers grew its position in CSX by 16.8% in the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock valued at $2,678,000 after purchasing an additional 10,276 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSX. Susquehanna lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of CSX in a report on Thursday, January 25th. TD Cowen lifted their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Stifel Nicolaus cut their price objective on shares of CSX from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Finally, Raymond James lifted their price objective on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.88.

CSX Stock Performance

CSX stock traded up $0.23 during midday trading on Thursday, reaching $37.07. The stock had a trading volume of 8,659,547 shares, compared to its average volume of 11,666,185. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The firm’s 50-day moving average price is $36.89 and its 200 day moving average price is $33.79. The firm has a market capitalization of $72.57 billion, a PE ratio of 20.19, a P/E/G ratio of 2.09 and a beta of 1.18. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. CSX had a return on equity of 30.52% and a net margin of 25.35%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the previous year, the business posted $0.49 EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts predict that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.29%. CSX’s dividend payout ratio is currently 26.09%.

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.