IHT Wealth Management LLC Boosts Stake in CSX Co. (NASDAQ:CSX)

IHT Wealth Management LLC raised its position in CSX Co. (NASDAQ:CSX – Get Rating) by 13.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,583 shares of the transportation company’s stock after buying an additional 4,994 shares during the period. IHT Wealth Management LLC’s holdings in CSX were worth $1,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its position in CSX by 5.6% in the 3rd quarter. Lazard Asset Management LLC now owns 26,577,013 shares of the transportation company’s stock valued at $708,010,000 after buying an additional 1,414,959 shares during the last quarter. FMR LLC boosted its position in CSX by 4.2% in the 2nd quarter. FMR LLC now owns 21,279,299 shares of the transportation company’s stock valued at $618,377,000 after buying an additional 847,913 shares during the last quarter. Legal & General Group Plc boosted its position in CSX by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 20,264,188 shares of the transportation company’s stock valued at $588,878,000 after buying an additional 725,436 shares during the last quarter. Fisher Asset Management LLC boosted its position in CSX by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 20,201,193 shares of the transportation company’s stock valued at $538,160,000 after buying an additional 668,778 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in CSX by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,642,400 shares of the transportation company’s stock valued at $390,160,000 after buying an additional 79,243 shares during the last quarter. 72.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSX has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of CSX in a research report on Friday. They set a “hold” rating on the stock. Wells Fargo & Company increased their price target on shares of CSX from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 4th. Benchmark reduced their price target on shares of CSX from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, January 26th. Barclays increased their price target on shares of CSX from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 29th. Finally, Raymond James increased their price target on shares of CSX from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.58.

CSX Price Performance

NASDAQ CSX opened at $29.33 on Friday. CSX Co. has a 12 month low of $25.80 and a 12 month high of $38.17. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.56 and a quick ratio of 1.42. The firm has a market capitalization of $60.50 billion, a PE ratio of 15.12, a P/E/G ratio of 2.26 and a beta of 1.22. The company’s 50 day simple moving average is $31.15 and its 200 day simple moving average is $30.51.

CSX (NASDAQ:CSX – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The transportation company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Monday, February 27th. This is a positive change from CSX’s previous quarterly dividend of $0.10. CSX’s dividend payout ratio (DPR) is currently 22.68%.

CSX 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.