Proficio Capital Partners LLC Buys 574,066 Shares of CSX Co. (NASDAQ:CSX)

Proficio Capital Partners LLC boosted its stake in CSX Co. (NASDAQ:CSX) by 3,802.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 589,164 shares of the transportation company’s stock after buying an additional 574,066 shares during the period. Proficio Capital Partners LLC’s holdings in CSX were worth $19,012,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. lifted its holdings in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of CSX in the fourth quarter valued at about $33,000. Center for Financial Planning Inc. increased its position in 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 acquiring an additional 720 shares during the period. Addison Advisors LLC raised its stake in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in CSX in the 4th quarter valued at about $39,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of NASDAQ:CSX opened at $32.01 on Friday. CSX Co. has a one year low of $31.43 and a one year high of $38.61. 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 has a market cap of $61.72 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.92 and a beta of 1.23. The firm has a 50 day simple moving average of $32.60 and a 200 day simple moving average of $33.70.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. Research analysts predict that CSX Co. will post 1.83 earnings per share 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 issued a dividend of $0.13 per share. This is a boost 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 is Friday, February 28th. CSX’s payout ratio is 29.05%.

Analyst Ratings Changes

Several research analysts have recently commented on CSX shares. Barclays lowered their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased 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. Finally, Wells Fargo & Company dropped their price target 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. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

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.