Assetmark Inc. Grows Stock Holdings in CSX Co. (NASDAQ:CSX)

Assetmark Inc. lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 23.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 254,181 shares of the transportation company’s stock after acquiring an additional 48,415 shares during the quarter. Assetmark Inc.’s holdings in CSX were worth $8,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC bought a new position in CSX in the fourth quarter worth about $27,000. Life Planning Partners Inc purchased a new stake in CSX during the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the fourth quarter valued at approximately $34,000. Avion Wealth grew its holdings in 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 purchasing an additional 820 shares during the last quarter. Finally, Tortoise Investment Management LLC acquired a new position in shares of CSX during the fourth quarter worth $37,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CSX. Stifel Nicolaus increased their price target on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Susquehanna lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. BMO Capital Markets raised their target price on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Bank of America decreased 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. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Price Performance

CSX stock opened at $34.01 on Thursday. The stock has a market capitalization of $66.49 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.71 and a beta of 1.19. The company’s fifty day moving average price is $35.16 and its 200 day moving average price is $34.92. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The business 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 company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 earnings per share. As a group, equities research analysts anticipate that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, May 30th. CSX’s dividend payout ratio is currently 26.37%.

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.