Proficio Capital Partners LLC Acquires 574,066 Shares of CSX Co. (NASDAQ:CSX)

Proficio Capital Partners LLC raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 3,802.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 589,164 shares of the transportation company’s stock after acquiring an additional 574,066 shares during the period. Proficio Capital Partners LLC’s holdings in CSX were worth $19,012,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CSX. Valley Wealth Managers Inc. grew its holdings in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the period. Sierra Ocean LLC bought a new position in shares of CSX during the fourth quarter worth $33,000. Center for Financial Planning Inc. grew its holdings in shares of CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the period. Addison Advisors LLC increased its position in shares of CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in CSX during the 4th quarter worth $39,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CSX. Loop Capital cut CSX from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Barclays decreased their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, January 10th. Susquehanna cut their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, BMO Capital Markets lowered their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Performance

CSX opened at $32.01 on Friday. The business’s 50-day simple moving average is $32.60 and its 200 day simple moving average is $33.70. CSX Co. has a 52-week low of $31.43 and a 52-week high of $38.61. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm has a market capitalization of $61.72 billion, a PE ratio of 17.88, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 29.05%.

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.