Portside Wealth Group LLC Has $870,000 Stake in CSX Co. (NASDAQ:CSX)

Portside Wealth Group LLC grew its stake in shares of CSX Co. (NASDAQ:CSX) by 3.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 26,974 shares of the transportation company’s stock after purchasing an additional 841 shares during the period. Portside Wealth Group LLC’s holdings in CSX were worth $870,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX in the 4th quarter worth about $27,000. Accredited Wealth Management LLC purchased a new position in shares of CSX in the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of CSX in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of CSX in the fourth quarter valued at approximately $31,000. Finally, Sierra Ocean LLC purchased a new stake in shares of CSX during the fourth quarter valued at approximately $33,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research analyst reports. Susquehanna cut their price objective on CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a research report on Thursday, April 17th. Argus set a $32.00 price target on shares of CSX in a research report on Friday, April 25th. Bank of America lifted their price objective on shares of CSX from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. BMO Capital Markets reduced their target price on shares of CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Finally, Barclays decreased their price target on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.95.

CSX Stock Performance

Shares of CSX opened at $31.93 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock has a market capitalization of $59.98 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The stock’s 50-day simple moving average is $29.18 and its 200 day simple moving average is $31.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio is presently 31.14%.

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.