SeaCrest Wealth Management LLC Buys 2,354 Shares of CSX Co. (NASDAQ:CSX)

SeaCrest Wealth Management LLC grew its position in shares of CSX Co. (NASDAQ:CSX) by 8.4% in the fourth quarter, Holdings Channel reports. The firm owned 30,238 shares of the transportation company’s stock after purchasing an additional 2,354 shares during the period. SeaCrest Wealth Management LLC’s holdings in CSX were worth $1,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Soroban Capital Partners LP lifted its position in CSX by 0.8% in the 4th quarter. Soroban Capital Partners LP now owns 58,100,864 shares of the transportation company’s stock worth $1,799,965,000 after buying an additional 470,000 shares during the last quarter. Geode Capital Management LLC raised its position in CSX by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 39,236,265 shares of the transportation company’s stock worth $1,172,727,000 after purchasing an additional 690,267 shares during the period. Lazard Asset Management LLC lifted its stake in CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares during the last quarter. Morgan Stanley boosted its position in CSX by 3.1% during the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after buying an additional 739,411 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of CSX by 101,926.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after buying an additional 23,300,381 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Thursday, January 25th. Stifel Nicolaus decreased their target price on shares of CSX from $38.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $34.00 price target on shares of CSX in a research report on Thursday, January 25th. Finally, Raymond James lifted their target price on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.88.

CSX Price Performance

Shares of CSX stock traded up $0.23 during trading hours on Friday, reaching $37.07. The company’s stock had a trading volume of 8,659,560 shares, compared to its average volume of 10,916,535. The firm has a 50 day moving average price of $36.89 and a 200-day moving average price of $33.79. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The stock has a market cap of $72.57 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.13 and a beta of 1.18. CSX Co. has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. On average, analysts predict that CSX Co. will post 1.96 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.29%. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is currently 26.09%.

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.