Resonant Capital Advisors LLC Raises Stock Holdings in CSX Co. (NASDAQ:CSX)

Resonant Capital Advisors LLC raised its holdings in CSX Co. (NASDAQ:CSX) by 93.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,541 shares of the transportation company’s stock after buying an additional 23,504 shares during the quarter. Resonant Capital Advisors LLC’s holdings in CSX were worth $1,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Fortitude Family Office LLC purchased a new stake in CSX in the fourth quarter valued at about $27,000. Life Planning Partners Inc acquired a new position in shares of CSX in the fourth quarter valued at about $27,000. Fortis Capital Advisors LLC acquired a new position in shares of CSX in the fourth quarter valued at about $27,000. Venturi Wealth Management LLC increased its holdings in shares of CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 692 shares during the period. Finally, Janiczek Wealth Management LLC increased its holdings in shares of CSX by 897.2% in the third quarter. Janiczek Wealth Management LLC now owns 1,067 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 960 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CSX shares. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday. UBS Group cut their price objective on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday. Jefferies Financial Group cut their price objective on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday. Royal Bank of Canada cut their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Raymond James increased their price objective on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $37.72.

CSX Price Performance

NASDAQ:CSX opened at $34.34 on Friday. The firm has a market cap of $67.22 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. The company has a 50 day moving average price of $36.88 and a 200-day moving average price of $34.35. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 0.91. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued 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 company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Equities research analysts forecast that CSX Co. will post 1.96 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is presently 26.37%.

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.