Spire Wealth Management Grows Position in CSX Co. (NASDAQ:CSX)

Spire Wealth Management grew its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 18.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 162,224 shares of the transportation company's stock after acquiring an additional 24,756 shares during the quarter. Spire Wealth Management's holdings in CSX were worth $5,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. Fortitude Family Office LLC bought a new position in shares of CSX during the 4th quarter valued at approximately $27,000. Life Planning Partners Inc bought a new position in CSX during the fourth quarter valued at $27,000. Venturi Wealth Management LLC increased its position in CSX by 228.4% during the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company's stock valued at $31,000 after acquiring an additional 692 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX in the fourth quarter valued at $34,000. Finally, Avion Wealth lifted its holdings in shares of CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company's stock worth $35,000 after acquiring an additional 820 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research analyst reports. Bank of America cut their price objective 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 CSX from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, January 16th. TD Cowen raised their price objective on CSX from $32.00 to $36.00 and gave the stock a "market perform" rating in a report on Thursday, January 25th. Stifel Nicolaus upped their target price on CSX from $37.00 to $39.00 and gave the stock a "buy" rating in a report on Friday, April 12th. Finally, Susquehanna raised their price target on CSX from $42.00 to $44.00 and gave the company a "positive" rating in a research note on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CSX has an average rating of "Moderate Buy" and an average target price of $38.00.

CSX Stock Performance

Shares of CSX stock traded down $0.17 on Monday, reaching $33.68. 8,992,889 shares of the stock were exchanged, compared to its average volume of 12,273,807. 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 Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The firm has a market capitalization of $65.84 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.03 and a beta of 1.19. The business has a 50 day moving average price of $36.14 and a two-hundred day moving average price of $34.61.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. CSX's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. Analysts anticipate that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from CSX's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. CSX's payout ratio is 26.37%.

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.