Axxcess Wealth Management LLC Boosts Stake in CSX Co. (NASDAQ:CSX)

Axxcess Wealth Management LLC raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 20.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 308,351 shares of the transportation company’s stock after purchasing an additional 52,711 shares during the period. Axxcess Wealth Management LLC’s holdings in CSX were worth $10,691,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CSX. Assenagon Asset Management S.A. increased its position in shares of CSX by 416.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock valued at $155,912,000 after purchasing an additional 4,089,150 shares during the last quarter. Lazard Asset Management LLC boosted its position in CSX by 10.4% in the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of CSX by 68.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the transportation company’s stock worth $160,970,000 after acquiring an additional 2,119,965 shares in the last quarter. Barclays PLC lifted its holdings in CSX by 29.0% during the third quarter. Barclays PLC now owns 7,160,597 shares of the transportation company’s stock valued at $220,189,000 after purchasing an additional 1,609,942 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of CSX by 43.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock worth $146,128,000 after buying an additional 1,446,685 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group dropped their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. UBS Group lowered their price target on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus lifted their price target on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Raymond James raised their price target on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Finally, StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Price Performance

CSX traded up $0.28 during trading on Friday, reaching $33.85. The company’s stock had a trading volume of 6,618,097 shares, compared to its average volume of 14,806,096. The firm has a fifty day simple moving average of $36.23 and a two-hundred day simple moving average of $34.54. The company has a market cap of $66.17 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.03 and a beta of 1.19. 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 1 year low of $29.03 and a 1 year high of $40.12.

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. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. As a group, analysts anticipate that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

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.