CSX Co. (NASDAQ:CSX) Shares Purchased by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. boosted its holdings in CSX Co. (NASDAQ:CSX) by 41.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,012 shares of the transportation company’s stock after buying an additional 6,787 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in CSX were worth $743,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CSX. Avior Wealth Management LLC raised its holdings in shares of CSX by 2.5% in the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after purchasing an additional 293 shares during the period. Rehmann Capital Advisory Group raised its holdings in shares of CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after purchasing an additional 306 shares during the period. Associated Banc Corp raised its holdings in shares of CSX by 0.6% in the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after purchasing an additional 310 shares during the period. Joel Isaacson & Co. LLC raised its holdings in shares of CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after purchasing an additional 310 shares during the period. Finally, Patrick M Sweeney & Associates Inc. raised its holdings in shares of CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after purchasing an additional 313 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CSX shares. Citigroup cut their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company dropped their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Susquehanna dropped their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, BMO Capital Markets dropped their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Price Performance

CSX stock opened at $30.92 on Thursday. 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 Co. has a 52-week low of $30.62 and a 52-week high of $38.51. The stock’s 50 day moving average is $32.53 and its two-hundred day moving average is $33.66. The company has a market capitalization of $59.63 billion, a PE ratio of 17.27, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued 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 return on equity of 28.15% and a net margin of 23.95%. Analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.68%. CSX’s dividend payout ratio (DPR) is presently 29.05%.

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.