SVB Wealth LLC Acquires Shares of 36,032 CSX Co. (NASDAQ:CSX)

SVB Wealth LLC acquired a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,032 shares of the transportation company’s stock, valued at approximately $1,163,000.

Several other hedge funds also recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. raised its position in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the period. Sierra Ocean LLC acquired a new stake in shares of CSX during the fourth quarter valued at about $33,000. Center for Financial Planning Inc. grew its stake 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 valued at $35,000 after acquiring an additional 720 shares in the last quarter. Addison Advisors LLC grew its stake in shares of CSX by 348.5% during the third 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 in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of CSX during the fourth quarter valued at about $39,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CSX shares. BMO Capital Markets lowered their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Barclays lowered their target price on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company lowered their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Finally, Citigroup decreased their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Stock Performance

Shares of CSX stock opened at $32.01 on Monday. 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 business has a 50 day moving average of $32.60 and a two-hundred day moving average of $33.71. CSX Co. has a 52 week low of $31.43 and a 52 week high of $38.61. The company has a market cap of $61.72 billion, a P/E ratio of 17.88, a PEG ratio of 1.92 and a beta of 1.23.

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

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

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.