Castle Wealth Management LLC Purchases 1,413 Shares of CSX Co. (NASDAQ:CSX)

Castle Wealth Management LLC raised its stake in shares of CSX Co. (NASDAQ:CSX) by 6.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,089 shares of the transportation company’s stock after purchasing an additional 1,413 shares during the period. Castle Wealth Management LLC’s holdings in CSX were worth $713,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CSX. State Street Corp lifted its position in shares of CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after acquiring an additional 455,258 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CSX by 0.5% in the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after buying an additional 190,346 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after buying an additional 857,302 shares in the last quarter. FMR LLC lifted its position in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after buying an additional 1,447,651 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of CSX by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock worth $440,118,000 after buying an additional 737,221 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.6 %

CSX stock opened at $32.92 on Thursday. The business has a fifty day moving average of $32.82 and a two-hundred day moving average of $33.84. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a market cap of $63.48 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.91 and a beta of 1.23. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. On average, analysts forecast that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.58%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 26.82%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Susquehanna reduced their price objective on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Robert W. Baird reduced their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Raymond James reissued an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Finally, Stephens reissued an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

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.