Nicholas Hoffman & Company LLC. Invests $208,000 in CSX Co. (NASDAQ:CSX)

Nicholas Hoffman & Company LLC. bought a new stake in CSX Co. (NASDAQ:CSX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,605 shares of the transportation company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fortitude Family Office LLC purchased a new position in shares of CSX during the 4th quarter valued at about $27,000. Life Planning Partners Inc acquired a new stake in CSX during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in CSX during the first quarter valued at approximately $29,000. Venturi Wealth Management LLC lifted its holdings in CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 692 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in CSX in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CSX shares. UBS Group cut their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. BMO Capital Markets lifted their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. TD Cowen increased their target price on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Susquehanna lifted their price target on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. Finally, Stifel Nicolaus increased their price target on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Price Performance

CSX traded down $0.73 on Tuesday, hitting $33.22. 17,483,721 shares of the company’s stock were exchanged, compared to its average volume of 12,415,493. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock has a market cap of $64.94 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 2.04 and a beta of 1.18. The firm has a 50-day moving average price of $36.48 and a 200-day moving average price of $34.54. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. As a group, equities analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.44%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

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.