Mindset Wealth Management LLC Has $449,000 Position in CSX Co. (NASDAQ:CSX)

Mindset Wealth Management LLC increased its stake in shares of CSX Co. (NASDAQ:CSX) by 135.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,912 shares of the transportation company’s stock after buying an additional 8,000 shares during the quarter. Mindset Wealth Management LLC’s holdings in CSX were worth $449,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CSX. SBI Securities Co. Ltd. acquired a new stake in shares of CSX during the fourth quarter worth approximately $31,000. Sierra Ocean LLC acquired a new stake in shares of CSX during the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. boosted its holdings in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares during the period. Atala Financial Inc bought a new position in CSX during the fourth quarter valued at approximately $36,000. Finally, Wingate Wealth Advisors Inc. bought a new position in CSX during the fourth quarter valued at approximately $39,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 0.3 %

Shares of CSX stock opened at $29.98 on Friday. CSX Co. has a 1 year low of $28.98 and a 1 year high of $38.03. The firm’s fifty day simple moving average is $32.07 and its 200 day simple moving average is $33.39. The firm has a market capitalization of $56.80 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its quarterly 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%. As a group, sell-side analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CSX. Wells Fargo & Company cut their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. JPMorgan Chase & Co. cut their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Finally, Raymond James reaffirmed an “outperform” rating and set a $37.00 price objective (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.