Kingswood Wealth Advisors LLC Acquires 3,191 Shares of CSX Co. (NASDAQ:CSX)

Kingswood Wealth Advisors LLC increased its holdings in CSX Co. (NASDAQ:CSX) by 23.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,795 shares of the transportation company’s stock after purchasing an additional 3,191 shares during the period. Kingswood Wealth Advisors LLC’s holdings in CSX were worth $562,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in CSX by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after acquiring an additional 443,755 shares during the period. Capital International Investors increased its stake in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the period. Fisher Asset Management LLC lifted its position in shares of CSX by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock worth $775,855,000 after purchasing an additional 470,640 shares during the last quarter. Norges Bank bought a new stake in CSX during the 4th quarter valued at approximately $757,276,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in CSX by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock valued at $388,922,000 after buying an additional 135,169 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Down 0.7 %

CSX stock traded down $0.24 during midday trading on Wednesday, reaching $33.62. The stock had a trading volume of 10,019,321 shares, compared to its average volume of 11,868,304. The firm has a market cap of $65.72 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.89 and a beta of 1.20. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $33.55 and a two-hundred day simple moving average of $35.03.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. As a group, research analysts expect that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday, July 8th. Stifel Nicolaus lifted their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Wells Fargo & Company initiated coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target for the company. JPMorgan Chase & Co. raised their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, BMO Capital Markets restated an “outperform” rating and set a $40.00 price objective on shares of CSX in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

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.