Connecticut Wealth Management LLC Increases Stock Position in CSX Co. (NASDAQ:CSX)

Connecticut Wealth Management LLC raised its position in CSX Co. (NASDAQ:CSX) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,598 shares of the transportation company’s stock after buying an additional 738 shares during the period. Connecticut Wealth Management LLC’s holdings in CSX were worth $818,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in CSX in the 4th quarter valued at $27,000. Life Planning Partners Inc acquired a new stake in shares of CSX in the fourth quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX during the fourth quarter worth about $34,000. Venturi Wealth Management LLC raised its position in shares of CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after purchasing an additional 692 shares during the last quarter. Finally, Avion Wealth raised its position in shares of CSX by 450.5% during the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after purchasing an additional 820 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Susquehanna lifted their price objective on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Thursday, April 18th. Stifel Nicolaus increased their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada dropped their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Finally, Bank of America decreased their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

CSX Trading Up 0.8 %

CSX stock traded up $0.28 during midday trading on Friday, hitting $33.85. 6,618,097 shares of the company’s stock were exchanged, compared to its average volume of 14,806,096. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The business has a 50-day simple moving average of $36.23 and a two-hundred day simple moving average of $34.59. The stock has a market capitalization of $66.17 billion, a PE ratio of 18.60, a P/E/G ratio of 2.03 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the company earned $0.48 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts predict that CSX Co. will post 1.95 EPS 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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is 26.37%.

CSX 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.