SVB Wealth LLC Boosts Stake in CSX Co. (NASDAQ:CSX)

SVB Wealth LLC lifted its position in shares of CSX Co. (NASDAQ:CSX) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,415 shares of the transportation company’s stock after acquiring an additional 2,792 shares during the quarter. SVB Wealth LLC’s holdings in CSX were worth $1,262,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Value Partners Investments Inc. purchased a new position in CSX in the 3rd quarter valued at about $1,172,000. Morgan Stanley lifted its stake in CSX by 3.1% in the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after buying an additional 739,411 shares in the last quarter. International Assets Investment Management LLC lifted its stake in CSX by 3,241.9% in the 4th quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock valued at $8,158,000 after buying an additional 228,263 shares in the last quarter. Sapient Capital LLC purchased a new position in CSX in the 4th quarter valued at about $1,279,000. Finally, EP Wealth Advisors LLC lifted its stake in CSX by 414.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 51,534 shares of the transportation company’s stock valued at $1,585,000 after buying an additional 41,524 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Up 0.7 %

CSX stock opened at $34.39 on Friday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. The firm has a 50 day moving average price of $36.93 and a 200 day moving average price of $34.32. The company has a market capitalization of $67.32 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts expect that CSX Co. will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is currently 26.09%.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. BMO Capital Markets increased 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. Royal Bank of Canada cut their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday. UBS Group cut their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday. Finally, Raymond James increased their price objective on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.72.

About CSX

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.