SOA Wealth Advisors LLC. Raises Position in CSX Corporation $CSX

SOA Wealth Advisors LLC. raised its position in CSX Corporation (NASDAQ:CSX) by 26.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,914 shares of the transportation company’s stock after buying an additional 23,072 shares during the period. SOA Wealth Advisors LLC.’s holdings in CSX were worth $4,057,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CSX. Twin Peaks Wealth Advisors LLC purchased a new position in shares of CSX in the second quarter valued at approximately $25,000. FNY Investment Advisers LLC increased its position in shares of CSX by 437.3% during the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after purchasing an additional 586 shares in the last quarter. WFA of San Diego LLC purchased a new stake in shares of CSX during the second quarter worth approximately $28,000. Pinnacle Bancorp Inc. raised its stake in CSX by 121.5% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 729 shares during the last quarter. Finally, Aventura Private Wealth LLC acquired a new position in CSX in the 4th quarter valued at $63,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insiders Place Their Bets

In other CSX news, EVP Stephen Fortune sold 31,456 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $38.65, for a total value of $1,215,774.40. Following the transaction, the executive vice president directly owned 82,034 shares in the company, valued at $3,170,614.10. The trade was a 27.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen F. Angel purchased 25,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were purchased at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the acquisition, the chief executive officer directly owned 146,540 shares in the company, valued at approximately $5,901,165.80. The trade was a 20.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 188,123 shares of company stock valued at $7,454,854 over the last ninety days. Company insiders own 0.55% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $41.22 on Friday. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $43.35. The stock has a market cap of $76.70 billion, a P/E ratio of 26.77, a PEG ratio of 2.29 and a beta of 1.25. The business has a fifty day moving average of $40.35 and a two-hundred day moving average of $37.24. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.59 billion. CSX had a return on equity of 23.88% and a net margin of 20.50%.The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, research analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is a boost from CSX’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 27th. CSX’s payout ratio is presently 36.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Cowen reaffirmed a “buy” rating on shares of CSX in a research note on Monday, January 12th. Citigroup reduced their target price on shares of CSX from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Rothschild & Co Redburn raised their price target on shares of CSX from $42.50 to $45.50 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group boosted their price target on shares of CSX from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Sanford C. Bernstein upped their price objective on shares of CSX from $36.00 to $39.00 and gave the company a “market perform” rating in a research note on Tuesday. Eighteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

CSX Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.