CSX Co. (NASDAQ:CSX) Position Boosted by Smith Salley Wealth Management

Smith Salley Wealth Management grew its position in shares of CSX Co. (NASDAQ:CSX) by 24.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 16,462 shares of the transportation company’s stock after buying an additional 3,260 shares during the quarter. Smith Salley Wealth Management’s holdings in CSX were worth $610,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Life Planning Partners Inc acquired a new position in CSX during the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the 1st quarter worth $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the fourth quarter worth $34,000. Finally, Burkett Financial Services LLC acquired a new position in shares of CSX during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.91 during trading hours on Tuesday, hitting $32.48. 14,924,310 shares of the company’s stock traded hands, compared to its average volume of 11,897,752. The company’s fifty day simple moving average is $33.39 and its two-hundred day simple moving average is $35.11. The company has a market cap of $63.50 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 1.72 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last issued its 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 firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s revenue for the quarter 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 anticipate that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CSX shares. Stifel Nicolaus lifted their price objective on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Susquehanna decreased their price objective on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a report on Tuesday, June 25th. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Monday. Jefferies Financial Group reduced their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Finally, Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.39.

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.