Centricity Wealth Management LLC Makes New $57,000 Investment in CSX Co. (NASDAQ:CSX)

Centricity Wealth Management LLC bought a new stake in CSX Co. (NASDAQ:CSX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,760 shares of the transportation company’s stock, valued at approximately $57,000.

Several other large investors have also modified their holdings of the stock. Valley Wealth Managers Inc. grew its stake in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new stake in shares of CSX in the third quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new position in shares of CSX during the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. grew its position in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after acquiring an additional 720 shares during the last quarter. Finally, Addison Advisors LLC increased its holdings in shares of CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Barclays decreased their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Susquehanna dropped their price target on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.16.

CSX Trading Down 0.5 %

NASDAQ:CSX opened at $32.30 on Friday. The stock has a market capitalization of $62.29 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.92 and a beta of 1.23. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. The stock has a fifty day moving average price of $32.63 and a two-hundred day moving average price of $33.77. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

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

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio (DPR) is presently 26.82%.

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.