B. Riley Wealth Advisors Inc. Increases Position in CSX Co. (NASDAQ:CSX)

B. Riley Wealth Advisors Inc. boosted its stake in shares of CSX Co. (NASDAQ:CSX – Get Rating) by 151.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 141,445 shares of the transportation company’s stock after buying an additional 85,123 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in CSX were worth $3,769,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Webster Bank N. A. purchased a new position in CSX during the third quarter valued at $40,000. Wagner Wealth Management LLC purchased a new position in shares of CSX in the 2nd quarter worth $41,000. Godsey & Gibb Inc. purchased a new position in shares of CSX in the 3rd quarter worth $43,000. Orion Capital Management LLC grew its stake in shares of CSX by 504.0% in the 3rd quarter. Orion Capital Management LLC now owns 1,830 shares of the transportation company’s stock worth $49,000 after buying an additional 1,527 shares in the last quarter. Finally, Ellevest Inc. grew its stake in shares of CSX by 94.2% in the 3rd quarter. Ellevest Inc. now owns 1,884 shares of the transportation company’s stock worth $50,000 after buying an additional 914 shares in the last quarter. 72.91% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 1.2 %

NASDAQ:CSX opened at $29.33 on Friday. CSX Co. has a one year low of $25.80 and a one year high of $38.17. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.42 and a current ratio of 1.56. The firm has a market cap of $60.50 billion, a P/E ratio of 15.12, a P/E/G ratio of 2.26 and a beta of 1.22. The firm has a 50-day simple moving average of $31.15 and a 200-day simple moving average of $30.51.

CSX (NASDAQ:CSX – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. CSX had a net margin of 28.05% and a return on equity of 31.48%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.50%. This is a boost from CSX’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, February 27th. CSX’s payout ratio is presently 22.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of CSX from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 4th. Susquehanna lifted their price objective on shares of CSX from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 26th. Morgan Stanley lifted their price objective on shares of CSX from $23.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 11th. Cowen lifted their price objective on shares of CSX from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Thursday, January 26th. Finally, Benchmark lowered their target price on shares of CSX from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $34.58.

CSX Company Profile

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.