Financial Synergies Wealth Advisors Inc. Takes Position in CSX Co. (NASDAQ:CSX)

Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX Co. (NASDAQ:CSX) during the first quarter, HoldingsChannel reports. The fund acquired 788 shares of the transportation company’s stock, valued at approximately $29,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in CSX during the fourth quarter worth about $27,000. Life Planning Partners Inc purchased a new stake in CSX during the fourth quarter worth about $27,000. Burkett Financial Services LLC purchased a new stake in CSX during the fourth quarter worth about $34,000. Turtle Creek Wealth Advisors LLC purchased a new stake in CSX during the fourth quarter worth about $34,000. Finally, Avion Wealth boosted its holdings in CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after buying an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.6 %

CSX stock opened at $33.21 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm’s 50-day simple moving average is $33.58 and its 200 day simple moving average is $35.14. The stock has a market cap of $64.92 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company earned $0.48 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts predict that CSX Co. will post 1.96 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. CSX’s dividend payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CSX shares. Royal Bank of Canada cut their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group cut their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Wells Fargo & Company assumed coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Bank of America cut their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Stifel Nicolaus boosted their price objective on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.82.

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.