Centricity Wealth Management LLC Makes New $57,000 Investment in CSX Co. (NASDAQ:CSX)

Centricity Wealth Management LLC bought a new position in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,760 shares of the transportation company’s stock, valued at approximately $57,000.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings in CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after acquiring an additional 455,258 shares during the last quarter. Geode Capital Management LLC raised its position in CSX by 0.5% in the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after purchasing an additional 190,346 shares during the period. Fisher Asset Management LLC lifted its stake in shares of CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after purchasing an additional 857,302 shares during the last quarter. FMR LLC grew its holdings in shares of CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CSX by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock worth $440,118,000 after purchasing an additional 737,221 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CSX. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Susquehanna dropped their target price on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Finally, Barclays lowered their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Down 0.5 %

CSX stock opened at $32.30 on Friday. The company’s 50 day moving average price is $32.63 and its 200 day moving average price is $33.77. The firm has a market capitalization of $62.29 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.92 and a beta of 1.23. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. 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) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities research analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. CSX’s dividend payout ratio (DPR) is currently 26.82%.

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.