RKL Wealth Management LLC Acquires New Shares in CSX Co. (NASDAQ:CSX)

RKL Wealth Management LLC acquired a new stake in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,303 shares of the transportation company’s stock, valued at approximately $494,000.

Several other hedge funds have also recently bought and sold shares of CSX. Farther Finance Advisors LLC increased its stake in CSX by 11.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,254 shares of the transportation company’s stock valued at $285,000 after purchasing an additional 842 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in CSX by 1.0% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 40,767 shares of the transportation company’s stock valued at $1,408,000 after purchasing an additional 408 shares in the last quarter. Principal Financial Group Inc. increased its stake in CSX by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after purchasing an additional 77,488 shares in the last quarter. Portside Wealth Group LLC increased its position in CSX by 2.4% during the third quarter. Portside Wealth Group LLC now owns 26,321 shares of the transportation company’s stock worth $909,000 after buying an additional 615 shares in the last quarter. Finally, Summit Global Investments increased its position in CSX by 77.6% during the third quarter. Summit Global Investments now owns 68,871 shares of the transportation company’s stock worth $2,378,000 after buying an additional 30,094 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of CSX stock opened at $31.26 on Friday. CSX Co. has a twelve month low of $30.55 and a twelve month high of $38.35. The stock has a market capitalization of $60.28 billion, a P/E ratio of 17.46, a PEG ratio of 1.92 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The business’s fifty day moving average price is $32.48 and its 200 day moving average price is $33.62.

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

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CSX. Benchmark reissued a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research report on Friday. They set a “hold” rating and a $34.00 price target for the company. JPMorgan Chase & Co. dropped their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Finally, BMO Capital Markets dropped their price target on CSX from $40.00 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.