Pinnacle Wealth Planning Services Inc. Grows Stock Position in CSX Co. (NASDAQ:CSX)

Pinnacle Wealth Planning Services Inc. lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 41.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,012 shares of the transportation company’s stock after purchasing an additional 6,787 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in CSX were worth $743,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CSX. Valley Wealth Managers Inc. raised its stake in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in CSX in the fourth quarter worth $31,000. Sierra Ocean LLC purchased a new position in CSX in the fourth quarter worth $33,000. Center for Financial Planning Inc. raised its position in CSX by 205.7% in 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 in the last quarter. Finally, Addison Advisors LLC raised its position in CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after acquiring an additional 812 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.9 %

CSX opened at $30.92 on Thursday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a market cap of $59.63 billion, a P/E ratio of 17.27, a PEG ratio of 1.92 and a beta of 1.23. CSX Co. has a 52 week low of $30.62 and a 52 week high of $38.51. The business’s fifty day simple moving average is $32.53 and its 200 day simple moving average is $33.66.

CSX (NASDAQ:CSX) last posted its quarterly earnings data 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 net margin of 23.95% and a return on equity of 28.15%. As a group, equities research analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Analyst Upgrades and Downgrades

CSX has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. BMO Capital Markets cut their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Royal Bank of Canada cut their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, 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 research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Company 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.