Burling Wealth Partners LLC Acquires New Holdings in CSX Co. (NASDAQ:CSX)

by · The Markets Daily

Burling Wealth Partners LLC bought a new position in CSX Co. (NASDAQ:CSX – Free Report) during the 4th quarter, Holdings Channel reports. The institutional investor bought 10,057 shares of the transportation company’s stock, valued at approximately $325,000.

Several other large investors have also recently bought and sold shares of the company. Joel Isaacson & Co. LLC raised its position in shares of CSX by 2.4% in the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after buying an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in shares of CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after acquiring an additional 313 shares in the last quarter. West Branch Capital LLC raised its holdings in shares of CSX by 3.3% in the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock valued at $333,000 after acquiring an additional 332 shares in the last quarter. Alhambra Investment Management LLC boosted its position in shares of CSX by 4.3% during the 4th quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company’s stock valued at $268,000 after acquiring an additional 342 shares during the last quarter. Finally, Trust Point Inc. raised its stake in CSX by 2.6% in the fourth quarter. Trust Point Inc. now owns 13,722 shares of the transportation company’s stock valued at $443,000 after purchasing an additional 344 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Benchmark reissued a “buy” rating and issued a $35.00 price target on shares of CSX in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Finally, BMO Capital Markets dropped their target price on CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $33.95.

Check Out Our Latest Stock Analysis on CSX

CSX Price Performance

CSX opened at $28.14 on Friday. The stock’s 50 day moving average price is $29.63 and its 200-day moving average price is $32.33. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The stock has a market capitalization of $52.86 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX – Get Free Report) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 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 company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. On average, equities research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.85%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 31.14%.

CSX Company Profile

(Free Report)

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.

See Also

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