Fingerlakes Wealth Management Inc. Sells 378 Shares of CSX Co. (NASDAQ:CSX)

Fingerlakes Wealth Management Inc. reduced its stake in CSX Co. (NASDAQ:CSX) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,207 shares of the transportation company’s stock after selling 378 shares during the period. CSX makes up about 1.1% of Fingerlakes Wealth Management Inc.’s holdings, making the stock its 28th largest holding. Fingerlakes Wealth Management Inc.’s holdings in CSX were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CSX. Allspring Global Investments Holdings LLC grew its holdings in CSX by 9.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 322,810 shares of the transportation company’s stock valued at $11,147,000 after buying an additional 29,161 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of CSX by 13.4% in the third quarter. Sequoia Financial Advisors LLC now owns 114,523 shares of the transportation company’s stock valued at $3,954,000 after acquiring an additional 13,523 shares during the period. Eastern Bank purchased a new position in CSX during the third quarter valued at approximately $1,761,000. Leo Wealth LLC increased its holdings in CSX by 17.2% during the 3rd quarter. Leo Wealth LLC now owns 24,998 shares of the transportation company’s stock worth $863,000 after acquiring an additional 3,665 shares during the period. Finally, Community Trust & Investment Co. lifted its stake in CSX by 7.7% in the 3rd quarter. Community Trust & Investment Co. now owns 29,454 shares of the transportation company’s stock worth $1,017,000 after purchasing an additional 2,100 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CSX shares. Barclays reduced their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Stephens restated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Susquehanna lowered their price target on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird cut their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Citigroup lowered their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Stock Performance

NASDAQ CSX opened at $32.41 on Thursday. The firm has a market cap of $62.50 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.97 and a beta of 1.23. The company has a 50-day simple moving average of $32.67 and a two-hundred day simple moving average of $33.78. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, equities analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, February 28th. CSX’s dividend payout ratio is currently 29.05%.

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.