Wedmont Private Capital Boosts Stock Position in CSX Co. (NASDAQ:CSX)

Posted by on Mar 19th, 2023

Wedmont Private Capital raised its stake in CSX Co. (NASDAQ:CSX – Get Rating) by 17.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,237 shares of the transportation company’s stock after purchasing an additional 1,536 shares during the period. Wedmont Private Capital’s holdings in CSX were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. Atlas Brown Inc. purchased a new stake in shares of CSX during the fourth quarter worth about $205,000. Capital Investment Advisors LLC grew its stake in shares of CSX by 119.1% during the fourth quarter. Capital Investment Advisors LLC now owns 32,302 shares of the transportation company’s stock worth $1,001,000 after acquiring an additional 17,561 shares during the last quarter. Continental Investors Services Inc. purchased a new stake in shares of CSX during the third quarter worth about $11,972,000. Perigon Wealth Management LLC grew its stake in shares of CSX by 43.0% during the third quarter. Perigon Wealth Management LLC now owns 15,127 shares of the transportation company’s stock worth $403,000 after acquiring an additional 4,551 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of CSX by 0.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 790,784 shares of the transportation company’s stock worth $21,065,000 after acquiring an additional 6,353 shares during the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.

CSX Trading Down 1.4 %

Shares of CSX stock opened at $28.91 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.56 and a quick ratio of 1.42. The company has a market cap of $59.63 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.25 and a beta of 1.22. The stock has a 50 day simple moving average of $31.09 and a 200-day simple moving average of $30.48. CSX Co. has a 1-year low of $25.80 and a 1-year high of $38.17.

CSX (NASDAQ:CSX – Get Rating) last announced its earnings results on Wednesday, January 25th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. CSX had a return on equity of 31.48% and a net margin of 28.05%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company posted $0.42 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.52%. This is a boost from CSX’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, February 27th. CSX’s payout ratio is presently 22.68%.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on CSX from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 4th. Susquehanna upped their target price on CSX from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. Cowen upped their target price on CSX from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Thursday, January 26th. Raymond James upped their target price on CSX from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, January 18th. Finally, Credit Suisse Group dropped their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, January 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.39.

About CSX

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

See Also

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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