Connecticut Wealth Management LLC Purchases 738 Shares of CSX Co. (NASDAQ:CSX)

Connecticut Wealth Management LLC grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,598 shares of the transportation company’s stock after purchasing an additional 738 shares during the quarter. Connecticut Wealth Management LLC’s holdings in CSX were worth $818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Value Partners Investments Inc. bought a new stake in shares of CSX during the 3rd quarter valued at $1,172,000. Morgan Stanley increased its position in shares of CSX by 3.1% during the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after buying an additional 739,411 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of CSX by 3,241.9% in the fourth quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock worth $8,158,000 after buying an additional 228,263 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CSX by 5.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock valued at $25,078,000 after acquiring an additional 34,730 shares during the period. Finally, Sapient Capital LLC purchased a new position in CSX during the fourth quarter valued at approximately $1,279,000. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Jefferies Financial Group decreased their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Bank of America dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Raymond James upped their target price on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Finally, BMO Capital Markets raised their price target on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Stock Up 0.8 %

Shares of CSX stock traded up $0.28 on Friday, reaching $33.85. The company’s stock had a trading volume of 6,618,097 shares, compared to its average volume of 14,806,096. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The firm’s fifty day simple moving average is $36.23 and its two-hundred day simple moving average is $34.59. The company has a market capitalization of $66.17 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.03 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. Equities analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is currently 26.37%.

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.