Fifth Third Wealth Advisors LLC Grows Stake in CSX Co. (NASDAQ:CSX)

Fifth Third Wealth Advisors LLC grew its position in shares of CSX Co. (NASDAQ:CSX) by 33.0% in the first quarter, Holdings Channel reports. The firm owned 19,423 shares of the transportation company’s stock after purchasing an additional 4,822 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in CSX were worth $720,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of CSX during the 4th quarter valued at $27,000. Life Planning Partners Inc purchased a new position in CSX in the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in CSX in the first quarter worth $29,000. Turtle Creek Wealth Advisors LLC purchased a new position in CSX in the fourth quarter worth $34,000. Finally, Burkett Financial Services LLC purchased a new position in CSX in the fourth quarter worth $34,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Jefferies Financial Group cut their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Bank of America cut their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Wells Fargo & Company initiated coverage on shares of CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

CSX Trading Up 0.1 %

Shares of NASDAQ:CSX traded up $0.02 during midday trading on Thursday, hitting $33.03. 14,252,710 shares of the stock traded hands, compared to its average volume of 11,959,551. The stock has a market capitalization of $64.57 billion, a PE ratio of 18.15, a P/E/G ratio of 1.69 and a beta of 1.19. The business’s 50 day moving average is $33.51 and its two-hundred day moving average is $35.12. 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 Co. has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. CSX’s revenue was down .8% on a year-over-year basis. As a group, research analysts forecast that CSX Co. will post 1.96 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s dividend payout ratio (DPR) 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.