33,680 Shares in CSX Co. (NASDAQ:CSX) Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE acquired a new stake in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 33,680 shares of the transportation company’s stock, valued at approximately $1,087,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of CSX during the fourth quarter worth approximately $31,000. Sierra Ocean LLC purchased a new position in CSX in the 4th quarter valued at $33,000. Center for Financial Planning Inc. increased its stake in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the period. Atala Financial Inc purchased a new position in CSX during the 4th quarter worth $36,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of CSX in the 4th quarter worth $37,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 0.1 %

Shares of CSX opened at $29.92 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 1-year low of $28.98 and a 1-year high of $37.18. The stock has a market cap of $56.69 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The firm has a 50 day simple moving average of $31.82 and a 200-day simple moving average of $33.23.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. Equities analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.74%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citigroup dropped their price target 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. Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of CSX in a research report on Monday, January 27th. JPMorgan Chase & Co. reduced their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Barclays dropped their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, Susquehanna cut their price objective on CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.75.

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.