Legacy Financial Advisors Inc. Has $964,000 Stock Holdings in CSX Co. (NASDAQ:CSX)

Legacy Financial Advisors Inc. increased its stake in shares of CSX Co. (NASDAQ:CSX) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,795 shares of the transportation company’s stock after buying an additional 547 shares during the period. Legacy Financial Advisors Inc.’s holdings in CSX were worth $964,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sapient Capital LLC acquired a new position in shares of CSX during the fourth quarter valued at $1,226,000. Axxcess Wealth Management LLC lifted its position in CSX by 20.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 308,351 shares of the transportation company’s stock valued at $10,691,000 after purchasing an additional 52,711 shares during the period. Merit Financial Group LLC grew its position in shares of CSX by 9.2% during the 4th quarter. Merit Financial Group LLC now owns 14,771 shares of the transportation company’s stock worth $512,000 after buying an additional 1,243 shares during the period. 9258 Wealth Management LLC raised its stake in shares of CSX by 8.0% during the fourth quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock worth $422,000 after buying an additional 900 shares during the last quarter. Finally, Summit Global Investments lifted its holdings in CSX by 69.4% in the fourth quarter. Summit Global Investments now owns 16,253 shares of the transportation company’s stock valued at $563,000 after buying an additional 6,658 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CSX shares. Bank of America dropped their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. UBS Group lowered their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Raymond James lifted their price target on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. BMO Capital Markets increased their price target on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada decreased their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Stock Up 0.8 %

CSX stock traded up $0.28 during midday trading on Friday, hitting $33.85. The company’s stock had a trading volume of 6,618,097 shares, compared to its average volume of 14,806,096. The company’s fifty day moving average price is $36.23 and its 200 day moving average price is $34.54. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The stock has a market capitalization of $66.17 billion, a P/E ratio of 18.60, a PEG ratio of 2.03 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the firm posted $0.48 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities research analysts predict that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

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.