Cerity Partners LLC Buys 40,624 Shares of CSX Co. (NASDAQ:CSX)

Cerity Partners LLC raised its stake in shares of CSX Co. (NASDAQ:CSX) by 22.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 220,724 shares of the transportation company’s stock after acquiring an additional 40,624 shares during the quarter. Cerity Partners LLC’s holdings in CSX were worth $7,652,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Fortitude Family Office LLC acquired a new stake in shares of CSX during the 4th quarter valued at about $27,000. Life Planning Partners Inc acquired a new stake in shares of CSX during the 4th quarter valued at about $27,000. Fortis Capital Advisors LLC acquired a new stake in shares of CSX during the 4th quarter valued at about $27,000. Venturi Wealth Management LLC boosted its position in shares of CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 692 shares in the last quarter. Finally, Janiczek Wealth Management LLC boosted its position in CSX by 897.2% in the third quarter. Janiczek Wealth Management LLC now owns 1,067 shares of the transportation company’s stock valued at $33,000 after buying an additional 960 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Trading Down 0.6 %

CSX opened at $35.14 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The company has a market cap of $68.79 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. The firm has a 50 day simple moving average of $37.08 and a 200 day simple moving average of $34.29. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. CSX’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, sell-side analysts anticipate 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. Investors of record on Thursday, February 29th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is 26.09%.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday. Benchmark boosted their price target on shares of CSX from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Raymond James boosted their price target on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Susquehanna boosted their price target on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.28.

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.