Essex Financial Services Inc. Raises Holdings in CSX Co. (NASDAQ:CSX)

Essex Financial Services Inc. increased its holdings in CSX Co. (NASDAQ:CSX) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 30,840 shares of the transportation company’s stock after acquiring an additional 405 shares during the period. Essex Financial Services Inc.’s holdings in CSX were worth $1,069,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. High Net Worth Advisory Group LLC boosted its position in shares of CSX by 1.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after buying an additional 304 shares during the period. Stratos Wealth Advisors LLC boosted its position in shares of CSX by 1.1% during the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after buying an additional 304 shares during the period. Cornercap Investment Counsel Inc. boosted its position in shares of CSX by 0.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after buying an additional 309 shares during the period. Astoria Portfolio Advisors LLC. boosted its position in shares of CSX by 2.4% during the third quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock worth $434,000 after buying an additional 349 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of CSX by 2.0% during the third quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock worth $552,000 after buying an additional 352 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of CSX opened at $33.20 on Thursday. The stock’s 50 day moving average is $36.41 and its two-hundred day moving average is $34.53. The firm has a market capitalization of $64.90 billion, a PE ratio of 18.24, a P/E/G ratio of 1.99 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping 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 return on equity of 29.58% and a net margin of 24.75%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. Research analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. CSX’s payout ratio is 26.37%.

Analyst Ratings Changes

CSX has been the subject of a number of recent research reports. TD Cowen lifted their target price on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Raymond James lifted their target price on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. StockNews.com cut CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Susquehanna raised their price target on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. Finally, Stifel Nicolaus lifted their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

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.