Envestnet Portfolio Solutions Inc. Acquires 3,533 Shares of CSX Co. (NASDAQ:CSX)

Envestnet Portfolio Solutions Inc. grew its stake in CSX Co. (NASDAQ:CSX) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,337 shares of the transportation company’s stock after buying an additional 3,533 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CSX were worth $3,819,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of CSX during the 4th quarter valued at $31,000. Sierra Ocean LLC bought a new position in CSX during the 4th quarter valued at approximately $33,000. Center for Financial Planning Inc. raised 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 valued at $35,000 after acquiring an additional 720 shares in the last quarter. Atala Financial Inc bought a new position in CSX in the 4th quarter worth $36,000. Finally, Synergy Asset Management LLC purchased a new stake in CSX in the fourth quarter worth about $41,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Stephens reissued an “overweight” rating and set a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Barclays dropped their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Robert W. Baird dropped their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.00.

CSX Trading Down 0.2 %

Shares of CSX opened at $30.26 on Wednesday. The company’s fifty day moving average is $32.16 and its 200 day moving average is $33.44. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $38.03. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock has a market capitalization of $57.33 billion, a PE ratio of 16.91, a P/E/G ratio of 1.92 and a beta of 1.25.

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 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%. Sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.72%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

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.