Massachusetts Wealth Management Has $1.39 Million Stock Position in CSX Co. (NASDAQ:CSX)

Massachusetts Wealth Management boosted its stake in CSX Co. (NASDAQ:CSX) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,540 shares of the transportation company’s stock after acquiring an additional 2,000 shares during the period. Massachusetts Wealth Management’s holdings in CSX were worth $1,392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in shares of CSX during the 4th quarter worth approximately $27,000. Life Planning Partners Inc bought a new position in CSX in the fourth quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in CSX in the first quarter valued at approximately $29,000. Burkett Financial Services LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of CSX during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ CSX traded down $0.21 on Thursday, hitting $33.55. The stock had a trading volume of 4,523,228 shares, compared to its average volume of 10,754,422. The firm has a 50-day moving average of $33.42 and a 200-day moving average of $35.13. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data 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 firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. Equities analysts expect that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Analyst Ratings Changes

CSX has been the subject of a number of recent research reports. Wells Fargo & Company initiated coverage on shares of CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. UBS Group dropped their target price on shares of 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 shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Royal Bank of Canada lowered their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Finally, Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.59.

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.