Castle Wealth Management LLC Raises Position in CSX Co. (NASDAQ:CSX)

Castle Wealth Management LLC grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,089 shares of the transportation company’s stock after purchasing an additional 1,413 shares during the period. Castle Wealth Management LLC’s holdings in CSX were worth $713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Perpetual Ltd purchased a new position in CSX in the 4th quarter worth $83,301,000. Assenagon Asset Management S.A. raised its stake in CSX by 318.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after acquiring an additional 2,489,329 shares during the last quarter. FMR LLC raised its stake 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 acquiring an additional 1,447,651 shares during the last quarter. KBC Group NV raised its stake 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 acquiring an additional 958,957 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake 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 acquiring an additional 857,302 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CSX shares. Wells Fargo & Company reduced their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Monday, January 27th. JPMorgan Chase & Co. cut their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Robert W. Baird cut their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Stifel Nicolaus cut their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Trading Down 0.6 %

CSX opened at $32.92 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company’s 50 day simple moving average is $32.82 and its two-hundred day simple moving average is $33.84. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12. The firm has a market capitalization of $63.48 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts expect that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.58%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is presently 26.82%.

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.