Eagle Wealth Strategies LLC Purchases New Holdings in CSX Co. (NASDAQ:CSX)

Eagle Wealth Strategies LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,537 shares of the transportation company’s stock, valued at approximately $296,000.

Several other institutional investors have also added to or reduced their stakes in CSX. Assenagon Asset Management S.A. lifted its holdings in shares of 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 worth $155,912,000 after acquiring an additional 4,089,150 shares during the period. Lazard Asset Management LLC lifted its holdings in CSX by 10.4% during the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after buying an additional 2,748,738 shares during the period. PNC Financial Services Group Inc. lifted its holdings in CSX by 68.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the transportation company’s stock worth $160,970,000 after buying an additional 2,119,965 shares during the period. Barclays PLC raised its position in shares of CSX by 29.0% in the 3rd quarter. Barclays PLC now owns 7,160,597 shares of the transportation company’s stock worth $220,189,000 after acquiring an additional 1,609,942 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of CSX by 43.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock worth $146,128,000 after acquiring an additional 1,446,685 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Up 0.1 %

CSX opened at $34.01 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock has a market cap of $66.49 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. The firm’s fifty day moving average is $36.61 and its 200 day moving average is $34.51. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) 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 the consensus estimate of $3.66 billion. During the same period in the previous year, the firm posted $0.48 EPS. CSX’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued 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 dividend on an annualized basis and a dividend yield of 1.41%. CSX’s payout ratio is 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent research reports. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Stifel Nicolaus upped their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a report on Thursday, April 18th. Raymond James increased their target price on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Finally, BMO Capital Markets upped their price target on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.00.

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.