SOA Wealth Advisors LLC. Grows Position in CSX Corporation $CSX

SOA Wealth Advisors LLC. increased its holdings in shares of CSX Corporation (NASDAQ:CSX) by 26.0% in the fourth quarter, Holdings Channel reports. The firm owned 111,914 shares of the transportation company’s stock after buying an additional 23,072 shares during the period. SOA Wealth Advisors LLC.’s holdings in CSX were worth $4,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CSX. Kingswood Wealth Advisors LLC boosted its holdings in CSX by 4.1% in the third quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock valued at $296,000 after purchasing an additional 331 shares in the last quarter. Moloney Securities Asset Management LLC raised its holdings in CSX by 2.7% during the third quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock worth $463,000 after purchasing an additional 339 shares in the last quarter. Gleason Group Inc. raised its holdings in CSX by 19.1% during the fourth quarter. Gleason Group Inc. now owns 2,646 shares of the transportation company’s stock worth $96,000 after purchasing an additional 425 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of CSX by 0.7% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,920 shares of the transportation company’s stock worth $2,660,000 after buying an additional 510 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its position in shares of CSX by 7.3% during the 3rd quarter. Crestwood Advisors Group LLC now owns 7,800 shares of the transportation company’s stock worth $277,000 after buying an additional 532 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $41.22 on Friday. The firm’s fifty day simple moving average is $40.35 and its 200-day simple moving average is $37.24. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $43.35. The stock has a market capitalization of $76.70 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.29 and a beta of 1.25. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.69.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CSX had a return on equity of 23.88% and a net margin of 20.50%.The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. This is a positive change from CSX’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 27th. CSX’s payout ratio is currently 36.36%.

Insider Buying and Selling

In other CSX news, CAO Diana B. Sorfleet sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the completion of the sale, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at $6,882,876.28. This represents a 35.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen Fortune sold 31,456 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the sale, the executive vice president directly owned 82,034 shares of the company’s stock, valued at $3,170,614.10. The trade was a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 188,123 shares of company stock valued at $7,454,854 over the last quarter. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Bank of America dropped their target price on shares of CSX from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Jefferies Financial Group boosted their price target on shares of CSX from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Citigroup decreased their price objective on shares of CSX from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Susquehanna reiterated a “neutral” rating and set a $39.00 target price on shares of CSX in a research report on Friday, January 23rd. Eighteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $40.94.

CSX Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.