Wedmont Private Capital Has $454,000 Stock Holdings in CSX Co. (NASDAQ:CSX)

Wedmont Private Capital raised its stake in shares of CSX Co. (NASDAQ:CSX) by 4.6% in the first quarter, Holdings Channel.com reports. The firm owned 16,220 shares of the transportation company’s stock after buying an additional 711 shares during the period. Wedmont Private Capital’s holdings in CSX were worth $454,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in CSX during the 4th quarter valued at about $27,000. Accredited Wealth Management LLC acquired a new position in CSX during the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of CSX during the 4th quarter worth approximately $31,000. Finally, Sierra Ocean LLC bought a new position in shares of CSX during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 2.0%

Shares of CSX stock opened at $32.61 on Wednesday. The company’s fifty day simple moving average is $29.42 and its two-hundred day simple moving average is $31.33. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The stock has a market capitalization of $61.26 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.92 and a beta of 1.24.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.59%. CSX’s payout ratio is 31.14%.

Analyst Ratings Changes

Several equities analysts have commented on CSX shares. Benchmark reissued a “buy” rating and set a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Argus set a $32.00 target price on shares of CSX in a research report on Friday, April 25th. Evercore ISI dropped their target price on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Barclays dropped their target price on shares of CSX from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, Bank of America lifted their target price on shares of CSX from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.95.

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.