Wealthspire Advisors LLC Has $934,000 Position in CSX Co. (NASDAQ:CSX)

Wealthspire Advisors LLC increased its stake in CSX Co. (NASDAQ:CSX) by 7.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,948 shares of the transportation company’s stock after purchasing an additional 2,021 shares during the quarter. Wealthspire Advisors LLC’s holdings in CSX were worth $934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Perpetual Ltd bought a new position in CSX in the 4th quarter worth approximately $83,301,000. FMR LLC increased its position in CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after buying an additional 1,447,651 shares during the period. KBC Group NV increased its position in CSX by 616.4% in the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after buying an additional 958,957 shares during the period. Fisher Asset Management LLC increased its position in CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after buying an additional 857,302 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in CSX by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock worth $440,118,000 after buying an additional 737,221 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. Barclays dropped their price target on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, January 10th. Susquehanna lowered their price objective on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. BMO Capital Markets lowered their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. lowered their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $32.09 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $38.70. The stock has a market capitalization of $61.88 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The business’s fifty day moving average price is $32.59 and its two-hundred day moving average price is $33.74.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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%. As a group, analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio is 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.