SeaCrest Wealth Management LLC Raises Holdings in CSX Co. (NASDAQ:CSX)

SeaCrest Wealth Management LLC increased its position in CSX Co. (NASDAQ:CSX) by 8.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,238 shares of the transportation company’s stock after purchasing an additional 2,354 shares during the period. SeaCrest Wealth Management LLC’s holdings in CSX were worth $1,047,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC raised its holdings in CSX by 101,926.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after purchasing an additional 23,300,381 shares in the last quarter. Norges Bank purchased a new position in CSX in the 4th quarter valued at about $621,349,000. First Trust Advisors LP boosted its position in CSX by 558.0% during the first quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock worth $203,620,000 after acquiring an additional 5,767,302 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of CSX by 395.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock valued at $195,059,000 after purchasing an additional 4,158,204 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of CSX by 416.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock worth $155,912,000 after buying an additional 4,089,150 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Up 0.6 %

NASDAQ:CSX traded up $0.23 on Friday, hitting $37.07. 8,659,560 shares of the stock were exchanged, compared to its average volume of 10,916,535. The company’s 50-day moving average price is $36.89 and its 200 day moving average price is $33.79. The stock has a market capitalization of $72.57 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 2.13 and a beta of 1.18. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. CSX’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities research analysts forecast that CSX Co. will post 1.96 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.29%. CSX’s payout ratio is 26.09%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSX. BMO Capital Markets boosted their price target on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. TD Cowen raised their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Raymond James raised their price target on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Susquehanna increased their price objective on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 target price on shares of CSX in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.88.

About CSX

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.