Flagship Wealth Advisors LLC Makes New $383,000 Investment in CSX Co. (NASDAQ:CSX)

Flagship Wealth Advisors LLC bought a new stake in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 11,880 shares of the transportation company’s stock, valued at approximately $383,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Parallel Advisors LLC increased its holdings in CSX by 6.5% during the 4th quarter. Parallel Advisors LLC now owns 18,629 shares of the transportation company’s stock worth $601,000 after purchasing an additional 1,135 shares in the last quarter. Cibc World Markets Corp lifted its stake in CSX by 13.3% in the 4th quarter. Cibc World Markets Corp now owns 347,475 shares of the transportation company’s stock valued at $11,213,000 after purchasing an additional 40,873 shares during the last quarter. Gold Investment Management Ltd. lifted its position in CSX by 0.6% during the fourth quarter. Gold Investment Management Ltd. now owns 117,387 shares of the transportation company’s stock worth $3,788,000 after acquiring an additional 660 shares during the last quarter. First National Advisers LLC lifted its position in CSX by 4.6% during the fourth quarter. First National Advisers LLC now owns 144,646 shares of the transportation company’s stock worth $4,668,000 after acquiring an additional 6,375 shares during the last quarter. Finally, GWN Securities Inc. bought a new position in shares of CSX during the fourth quarter worth approximately $846,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Royal Bank of Canada decreased their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Barclays reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, BMO Capital Markets dropped their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Price Performance

CSX stock opened at $30.01 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 52 week low of $28.98 and a 52 week high of $38.03. The firm’s fifty day moving average is $32.23 and its 200 day moving average is $33.49. The firm has a market cap of $56.86 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.92 and a beta of 1.25.

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

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. CSX’s payout ratio is presently 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.