Castle Wealth Management LLC Acquires 367 Shares of CSX Co. (NASDAQ:CSX)

Castle Wealth Management LLC boosted its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,413 shares of the transportation company’s stock after purchasing an additional 367 shares during the period. Castle Wealth Management LLC’s holdings in CSX were worth $534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSX. Moneta Group Investment Advisors LLC increased its holdings in shares of CSX by 101,926.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after buying an additional 23,300,381 shares in the last quarter. Norges Bank acquired a new stake in shares of CSX during the fourth quarter worth approximately $621,349,000. First Trust Advisors LP increased its holdings in shares of CSX by 558.0% during the first quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock worth $203,620,000 after buying an additional 5,767,302 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of CSX by 395.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock worth $195,059,000 after buying an additional 4,158,204 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of CSX by 416.8% during the third quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock worth $155,912,000 after buying an additional 4,089,150 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CSX shares. JPMorgan Chase & Co. dropped their price objective on shares of CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, December 21st. Bank of America lowered their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday. UBS Group lowered their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday. Susquehanna raised their price target on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Finally, Jefferies Financial Group lowered their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.72.

CSX Trading Down 0.1 %

CSX traded down $0.05 during trading on Friday, reaching $34.34. 13,613,593 shares of the company’s stock were exchanged, compared to its average volume of 12,126,607. The company’s fifty day moving average price is $36.88 and its 200-day moving average price is $34.35. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market capitalization of $67.22 billion, a PE ratio of 18.87, a P/E/G ratio of 1.97 and a beta of 1.18.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.88%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. As a group, equities analysts forecast that CSX Co. will post 1.97 EPS for the current year.

CSX Increases Dividend

The company 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.