Proficio Capital Partners LLC Grows Stake in CSX Co. (NASDAQ:CSX)

Proficio Capital Partners LLC lifted its stake in CSX Co. (NASDAQ:CSX) by 20.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,257 shares of the transportation company’s stock after acquiring an additional 3,159 shares during the quarter. Proficio Capital Partners LLC’s holdings in CSX were worth $589,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Landscape Capital Management L.L.C. purchased a new position in CSX in the 3rd quarter worth approximately $754,000. Meridian Wealth Management LLC acquired a new position in shares of CSX during the third quarter worth $387,000. Nwam LLC purchased a new position in shares of CSX in the third quarter valued at $580,000. Great Valley Advisor Group Inc. grew its holdings in CSX by 14.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 25,899 shares of the transportation company’s stock valued at $894,000 after purchasing an additional 3,252 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in CSX by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 289,861 shares of the transportation company’s stock worth $10,009,000 after buying an additional 50,913 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $29.57 on Monday. The company has a market cap of $56.02 billion, a PE ratio of 16.52, a P/E/G ratio of 1.92 and a beta of 1.25. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.40. The firm has a 50-day simple moving average of $32.03 and a 200 day simple moving average of $33.34. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, sell-side analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSX. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective for the company. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Barclays dropped their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Susquehanna reduced their target price on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Robert W. Baird decreased their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

CSX 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.