Western Wealth Management LLC Has $1.22 Million Stock Position in CSX Co. (NASDAQ:CSX)

Western Wealth Management LLC raised its holdings in CSX Co. (NASDAQ:CSX) by 1.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 35,188 shares of the transportation company’s stock after acquiring an additional 419 shares during the quarter. Western Wealth Management LLC’s holdings in CSX were worth $1,220,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in shares of CSX during the fourth quarter worth $27,000. Life Planning Partners Inc acquired a new stake in shares of CSX during the fourth quarter worth $27,000. Fortis Capital Advisors LLC acquired a new stake in shares of CSX during the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CSX during the fourth quarter worth $34,000. Finally, Venturi Wealth Management LLC increased its position in shares of CSX by 228.4% during the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after buying an additional 692 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 0.1 %

CSX stock opened at $34.34 on Friday. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The firm has a market capitalization of $67.22 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. The firm’s fifty day moving average price is $36.88 and its two-hundred day moving average price is $34.35. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the firm earned $0.48 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. On average, equities research analysts predict that CSX Co. will post 1.96 earnings per share for the current fiscal 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 given a dividend of $0.12 per share. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group decreased their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday. Susquehanna increased their target price 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. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Thursday. StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Jefferies Financial Group cut their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.