Paradigm Financial Partners LLC Buys Shares of 19,158 CSX Co. (NASDAQ:CSX)

Paradigm Financial Partners LLC purchased a new position in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,158 shares of the transportation company’s stock, valued at approximately $664,000.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC bought a new position in CSX in the 4th quarter valued at about $27,000. Life Planning Partners Inc acquired a new stake in CSX during the 4th quarter worth about $27,000. Venturi Wealth Management LLC raised its holdings in CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after buying an additional 692 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in CSX during the fourth quarter valued at about $34,000. Finally, Avion Wealth boosted its holdings in shares of CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after buying an additional 820 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $33.99 on Monday. 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 company has a market cap of $66.45 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.04 and a beta of 1.18. The business has a 50 day moving average price of $36.61 and a 200 day moving average price of $34.51.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion for 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 business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. Research analysts predict that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.12 dividend. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.41%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is 26.37%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Raymond James raised their target price on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Royal Bank of Canada decreased their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. BMO Capital Markets upped their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Bank of America reduced their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.00.

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.