Mascagni Wealth Management Inc. Purchases New Stake in CSX Co. (NASDAQ:CSX)

Mascagni Wealth Management Inc. bought a new position in shares of CSX Co. (NASDAQ:CSX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,549 shares of the transportation company's stock, valued at approximately $308,000.

Other hedge funds also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX in the 4th quarter worth about $27,000. Accredited Wealth Management LLC acquired a new stake in CSX in the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC acquired a new stake in CSX in the 4th quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new stake in CSX in the 4th quarter worth about $31,000. Finally, Sierra Ocean LLC acquired a new stake in CSX in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Ratings Changes

CSX has been the subject of several analyst reports. Jefferies Financial Group dropped their price objective on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Raymond James restated an "outperform" rating and issued a $33.00 target price (down from $34.00) on shares of CSX in a research report on Thursday, April 17th. Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and reduced their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Stifel Nicolaus reduced their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, UBS Group reduced their target price on shares of CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average price target of $33.90.

CSX Stock Up 0.3%

Shares of NASDAQ CSX traded up $0.08 during trading on Friday, hitting $31.50. The stock had a trading volume of 22,997,462 shares, compared to its average volume of 13,047,063. CSX Co. has a 12 month low of $26.22 and a 12 month high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a market capitalization of $59.17 billion, a PE ratio of 17.60, a PEG ratio of 1.92 and a beta of 1.22. The firm has a fifty day moving average of $29.06 and a two-hundred day moving average of $31.52.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. As a group, equities research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.65%. CSX's payout ratio is currently 31.14%.

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.