IFP Advisors Inc Purchases 11,080 Shares of CSX Co. (NASDAQ:CSX)

IFP Advisors Inc raised its position in shares of CSX Co. (NASDAQ:CSX) by 62.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,781 shares of the transportation company’s stock after purchasing an additional 11,080 shares during the period. IFP Advisors Inc’s holdings in CSX were worth $929,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. increased its holdings in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. Sierra Ocean LLC bought a new position in CSX during the fourth quarter worth $33,000. Center for Financial Planning Inc. grew its holdings 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 purchasing an additional 720 shares during the period. Addison Advisors LLC increased its stake in CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of CSX during the fourth quarter valued at about $39,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSX has been the topic of several analyst reports. Wells Fargo & Company cut their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, January 10th. Raymond James reissued an “outperform” rating and set a $37.00 price objective (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Finally, Royal Bank of Canada lowered their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Trading Up 0.1 %

Shares of CSX stock opened at $32.01 on Friday. The stock has a market capitalization of $61.73 billion, a PE ratio of 17.88, a P/E/G 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 $38.61. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The business has a 50-day moving average of $32.60 and a 200 day moving average of $33.71.

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

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.62%. CSX’s dividend payout ratio (DPR) is 29.05%.

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.