B. Riley Wealth Advisors Inc. Has $4.13 Million Stock Position in CSX Co. (NASDAQ:CSX)

B. Riley Wealth Advisors Inc. cut its stake in CSX Co. (NASDAQ:CSX) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,347 shares of the transportation company’s stock after selling 6,522 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in CSX were worth $4,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after acquiring an additional 443,755 shares in the last quarter. Capital International Investors grew its holdings in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of CSX by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after purchasing an additional 433,228 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after purchasing an additional 1,060,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after buying an additional 1,060,617 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CSX shares. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Monday, July 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Susquehanna increased their target price on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Barclays cut their price target on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Finally, Sanford C. Bernstein increased their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.93.

CSX Price Performance

Shares of CSX stock opened at $34.53 on Tuesday. The firm’s 50 day moving average price is $33.92 and its two-hundred day moving average price is $34.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The stock has a market cap of $67.50 billion, a PE ratio of 18.97, a PEG ratio of 1.91 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s revenue was up .0% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. As a group, analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. CSX’s payout ratio is currently 26.37%.

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.