Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stake in CSX Co. (NASDAQ:CSX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in CSX Co. (NASDAQ:CSX) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,007 shares of the transportation company’s stock after purchasing an additional 2,512 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in CSX were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC purchased a new position in CSX in the fourth quarter valued at $27,000. Life Planning Partners Inc acquired a new position in shares of CSX during the 4th quarter worth about $27,000. Venturi Wealth Management LLC increased its holdings in shares of CSX by 228.4% in 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 during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CSX during the 4th quarter worth about $34,000. Finally, Avion Wealth lifted its stake in CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after purchasing an additional 820 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 0.8 %

Shares of NASDAQ:CSX opened at $34.22 on Thursday. The company has a market cap of $66.90 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 2.03 and a beta of 1.19. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm’s 50-day simple moving average is $36.06 and its 200-day simple moving average is $34.64. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last released its 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. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities research analysts predict that CSX Co. will post 1.95 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. CSX’s payout ratio is currently 26.37%.

Analysts Set New Price Targets

A number of analysts have weighed in on CSX shares. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. TD Cowen upped their price objective on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Bank of America reduced their target price on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Raymond James raised their price target on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Finally, UBS Group reduced their price objective on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.00.

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.