CSX Co. (NASDAQ:CSX) Shares Acquired by SVB Wealth LLC

SVB Wealth LLC increased its position in CSX Co. (NASDAQ:CSX) by 8.3% during the fourth quarter, Holdings Channel reports. The fund owned 36,415 shares of the transportation company’s stock after purchasing an additional 2,792 shares during the quarter. SVB Wealth LLC’s holdings in CSX were worth $1,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of CSX. Moneta Group Investment Advisors LLC increased its stake in CSX by 101,926.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after buying an additional 23,300,381 shares during the period. Norges Bank acquired a new position in CSX during the 4th quarter valued at about $621,349,000. First Trust Advisors LP increased its stake in CSX by 558.0% during the 1st quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock valued at $203,620,000 after buying an additional 5,767,302 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in CSX by 395.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock valued at $195,059,000 after buying an additional 4,158,204 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in CSX by 416.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock valued at $155,912,000 after buying an additional 4,089,150 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock opened at $34.39 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. The stock has a market cap of $67.32 billion, a P/E ratio of 18.69, a P/E/G ratio of 2.01 and a beta of 1.18. The firm has a 50 day simple moving average of $36.93 and a 200 day simple moving average of $34.32. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. Research analysts anticipate that CSX Co. will post 1.97 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.12 per share. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is currently 26.09%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada lowered their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Susquehanna lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Bank of America lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets lifted their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.72.

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.