Soltis Investment Advisors LLC Buys New Shares in CSX Co. (NASDAQ:CSX)

Soltis Investment Advisors LLC purchased a new stake in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 6,348 shares of the transportation company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSX. Valley Wealth Managers Inc. grew its stake in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the period. Morton Brown Family Wealth LLC purchased a new position in CSX during the third quarter valued at approximately $31,000. Addison Advisors LLC boosted its position in shares of CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares during the period. Fortitude Family Office LLC increased its stake in shares of CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock worth $38,000 after purchasing an additional 336 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of CSX in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSX. Robert W. Baird cut their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Raymond James reiterated an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Wells Fargo & Company lowered their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Stephens restated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Finally, Citigroup reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $33.11 on Wednesday. The firm has a fifty day simple moving average of $32.88 and a two-hundred day simple moving average of $33.85. 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 stock has a market capitalization of $63.85 billion, a P/E ratio of 18.50, a PEG ratio of 1.91 and a beta of 1.23. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 return on equity of 28.15% and a net margin of 23.95%. On average, analysts expect that CSX Co. will post 1.86 earnings per share for the current fiscal year.

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.