Aprio Wealth Management LLC Invests $278,000 in CSX Co. (NASDAQ:CSX)

Aprio Wealth Management LLC purchased a new position in shares of CSX Co. (NASDAQ:CSX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,051 shares of the transportation company’s stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Price T Rowe Associates Inc. MD raised its stake in CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after acquiring an additional 9,914,656 shares in the last quarter. Interval Partners LP raised its stake in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in CSX in the second quarter valued at $116,430,000. M&G Plc acquired a new position in CSX in the first quarter valued at $126,089,000. Finally, Wulff Hansen & CO. increased its stake in CSX by 3,243.0% in the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on CSX shares. JPMorgan Chase & Co. lifted their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Monday, July 8th. Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Susquehanna lifted their price objective on shares of CSX from $41.00 to $42.00 and gave the company a “positive” rating in a research note on Wednesday, October 2nd. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.00.

CSX Stock Up 0.7 %

CSX stock opened at $33.87 on Wednesday. The company has a market cap of $66.21 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.91 and a beta of 1.19. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company’s 50-day moving average price is $33.96 and its 200 day moving average price is $34.07. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts expect that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

CSX Company 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.