Spire Wealth Management Has $5.61 Million Stake in CSX Co. (NASDAQ:CSX)

Spire Wealth Management raised its stake in CSX Co. (NASDAQ:CSX) by 18.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 162,224 shares of the transportation company’s stock after buying 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 SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. High Net Worth Advisory Group LLC raised its stake in shares of CSX by 1.7% during the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after purchasing an additional 304 shares in the last quarter. Stratos Wealth Advisors LLC raised 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 acquiring an additional 304 shares during the last quarter. Cornercap Investment Counsel Inc. raised 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 acquiring an additional 309 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its holdings in CSX by 2.4% in the third quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 349 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of CSX by 2.0% in the third quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock worth $552,000 after acquiring an additional 352 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX traded down $0.17 during midday trading on Monday, hitting $33.68. The company had a trading volume of 8,992,889 shares, compared to its average volume of 12,273,807. The firm has a market capitalization 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. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The business has a 50-day simple moving average of $36.23 and a two-hundred day simple moving average of $34.59. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) 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 company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.37%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CSX shares. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. UBS Group dropped their price objective on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Bank of America dropped their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Raymond James boosted their price target on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada cut their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus 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.