Wealthspire Advisors LLC Has $1.79 Million Holdings in CSX Corporation (NASDAQ:CSX)

Wealthspire Advisors LLC increased its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 110.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 60,840 shares of the transportation company's stock after purchasing an additional 31,892 shares during the quarter. Wealthspire Advisors LLC's holdings in CSX were worth $1,791,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after buying an additional 849 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after acquiring an additional 15,029 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of CSX by 16.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,104,626 shares of the transportation company's stock worth $100,186,000 after acquiring an additional 435,769 shares during the last quarter. Bank of Montreal Can grew its stake in shares of CSX by 3.0% in the fourth quarter. Bank of Montreal Can now owns 3,596,189 shares of the transportation company's stock worth $116,049,000 after acquiring an additional 106,319 shares during the last quarter. Finally, FIL Ltd increased its position in CSX by 13.1% during the fourth quarter. FIL Ltd now owns 1,616,122 shares of the transportation company's stock worth $52,152,000 after acquiring an additional 186,658 shares during the period. Institutional investors own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CSX shares. Baird R W raised shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Susquehanna reissued a "neutral" rating and set a $35.00 price objective on shares of CSX in a report on Tuesday, June 24th. Benchmark increased their price objective on shares of CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of CSX from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and increased their price target for the stock from $32.00 to $45.00 in a research report on Monday, July 21st. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

CSX Price Performance

Shares of CSX stock traded up $0.18 during trading hours on Friday, reaching $35.43. 10,864,400 shares of the company were exchanged, compared to its average volume of 21,548,876. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The stock's fifty day moving average is $33.56 and its two-hundred day moving average is $31.47. The company has a market cap of $66.05 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 2.63 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.49 EPS. Sell-side analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. CSX's payout ratio is 32.10%.

CSX 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.