CSX Co. (NASDAQ:CSX) Shares Acquired by Spire Wealth Management

Spire Wealth Management lifted its position in CSX Co. (NASDAQ:CSX) by 18.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 162,224 shares of the transportation company’s stock after acquiring an additional 24,756 shares during the period. Spire Wealth Management’s holdings in CSX were worth $5,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its stake in shares of CSX by 10.4% during the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after acquiring an additional 2,748,738 shares in the last quarter. Morgan Stanley boosted its stake in shares of CSX by 3.1% during the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after acquiring an additional 739,411 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of CSX by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock worth $775,855,000 after acquiring an additional 470,640 shares in the last quarter. Northern Trust Corp boosted its stake in shares of CSX by 1.4% during the 3rd quarter. Northern Trust Corp now owns 21,307,242 shares of the transportation company’s stock worth $655,198,000 after acquiring an additional 303,684 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CSX by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,082,663 shares of the transportation company’s stock worth $340,792,000 after acquiring an additional 56,856 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock traded down $0.17 during trading on Monday, hitting $33.68. The stock had a trading volume of 8,992,889 shares, compared to its average volume of 12,273,807. The company’s 50 day moving average price is $36.23 and its two-hundred day moving average price is $34.59. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The stock has a market cap of $65.84 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. 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 (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts forecast that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CSX shares. Royal Bank of Canada lowered their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Bank of America decreased their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group decreased their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets increased their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, UBS Group cut their price target on shares of CSX from $46.00 to $44.00 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.