Massachusetts Wealth Management Grows Stock Holdings in CSX Co. (NASDAQ:CSX)

Massachusetts Wealth Management raised its position in shares of CSX Co. (NASDAQ:CSX) by 5.6% during the first quarter, HoldingsChannel reports. The fund owned 37,540 shares of the transportation company’s stock after acquiring an additional 2,000 shares during the quarter. Massachusetts Wealth Management’s holdings in CSX were worth $1,392,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of CSX in the fourth quarter worth about $27,000. Life Planning Partners Inc bought a new position in shares of CSX in the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of CSX in the first quarter worth about $29,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of CSX in the fourth quarter worth about $34,000. Finally, Burkett Financial Services LLC bought a new position in CSX during the 4th quarter worth about $34,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock traded down $0.21 during mid-day trading on Thursday, reaching $33.55. 4,523,228 shares of the stock traded hands, compared to its average volume of 10,754,422. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average of $33.42 and a 200 day moving average of $35.13. The stock has a market capitalization of $65.59 billion, a PE ratio of 18.43, a PEG ratio of 1.75 and a beta of 1.20. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last released its 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. 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 revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, analysts predict that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.12 per share. The ex-dividend date was Friday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s dividend payout ratio is presently 26.37%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company assumed coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. Jefferies Financial Group dropped their price objective 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. Susquehanna reduced their target price on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a report on Tuesday, June 25th. UBS Group lowered their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.59.

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.