Tyche Wealth Partners LLC Invests $285,000 in CSX Co. (NASDAQ:CSX)

Tyche Wealth Partners LLC bought a new position in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,210 shares of the transportation company’s stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in CSX during the 4th quarter valued at about $27,000. Life Planning Partners Inc acquired a new stake in shares of CSX in the 4th quarter worth approximately $27,000. Fortis Capital Advisors LLC acquired a new stake in shares of CSX in the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CSX in the 4th quarter worth approximately $34,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after acquiring an additional 692 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CSX. Stifel Nicolaus upped their price target on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 price target on shares of CSX in a research note on Thursday, January 25th. Raymond James boosted their target price on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. BMO Capital Markets boosted their target price on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group began coverage on shares of CSX in a report on Monday, April 8th. They issued a “hold” rating and a $40.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.28.

CSX Stock Down 2.0 %

CSX stock opened at $34.16 on Thursday. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company’s 50 day simple moving average is $36.98 and its 200-day simple moving average is $34.32. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The firm has a market capitalization of $66.87 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.01 and a beta of 1.18.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. As a group, equities research analysts anticipate that CSX Co. will post 1.97 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.41%. The ex-dividend date was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is currently 26.09%.

CSX 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.