Partners Wealth Management LLC Makes New $784,000 Investment in CSX Co. (NASDAQ:CSX)

Partners Wealth Management LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 24,304 shares of the transportation company’s stock, valued at approximately $784,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in CSX by 20.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after acquiring an additional 80,423 shares during the last quarter. Diversified Trust Co raised its position in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares during the period. Marshall Financial Group LLC bought a new stake in CSX in the fourth quarter worth $1,084,000. Thrivent Financial for Lutherans lifted its stake in CSX by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares during the last quarter. Finally, Carnegie Investment Counsel boosted its position in CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after buying an additional 8,474 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Down 0.5 %

NASDAQ:CSX opened at $32.30 on Monday. The stock has a market cap of $62.29 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.92 and a beta of 1.23. 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 company’s 50 day moving average price is $32.63 and its 200-day moving average price is $33.77. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. On average, equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. CSX’s dividend payout ratio (DPR) is 29.05%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird lowered their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company lowered their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. BMO Capital Markets cut their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. lowered their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Six equities research 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 currently has an average rating of “Moderate Buy” and an average price target of $37.16.

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.