Icon Wealth Partners LLC Takes Position in CSX Co. (CSX)
Icon Wealth Partners LLC bought a new stake in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 2,287 shares of the transportation company’s stock, valued at approximately $126,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. First Command Financial Services Inc. grew its stake in shares of CSX by 130.0% in the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock valued at $117,000 after buying an additional 1,200 shares during the period. Prentiss Smith & Co. Inc. acquired a new stake in shares of CSX in the 4th quarter valued at about $119,000. Front Row Advisors LLC acquired a new position in CSX during the 4th quarter valued at about $135,000. IFG Advisory LLC acquired a new position in CSX during the 4th quarter valued at about $355,000. Finally, Americafirst Capital Management LLC acquired a new position in CSX during the 3rd quarter valued at about $308,000. Institutional investors own 74.77% of the company’s stock.
CSX Co. (NASDAQ:CSX) opened at $55.04 on Monday. CSX Co. has a 12 month low of $45.41 and a 12 month high of $60.04. The firm has a market capitalization of $48,833.48, a P/E ratio of 9.07, a PEG ratio of 1.33 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.80.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.20. CSX’s payout ratio is 14.50%.
CSX announced that its board has approved a share repurchase program on Monday, February 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of research firms have issued reports on CSX. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Royal Bank of Canada lifted their price target on CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. They noted that the move was a valuation call. Robert W. Baird reiterated a “buy” rating and set a $59.00 price target on shares of CSX in a research note on Tuesday, January 9th. Scotiabank downgraded CSX from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $63.00 to $43.00 in a research note on Friday, January 12th. Finally, TD Securities lifted their price target on CSX from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $60.71.
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CSX Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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