Linscomb Wealth Inc. Boosts Stake in CSX Co. (NASDAQ:CSX)

Linscomb Wealth Inc. increased its stake in shares of CSX Co. (NASDAQ:CSX) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,432 shares of the transportation company’s stock after buying an additional 1,346 shares during the quarter. Linscomb Wealth Inc.’s holdings in CSX were worth $1,425,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Miracle Mile Advisors LLC grew its stake in shares of CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after buying an additional 303 shares during the period. Stratos Wealth Advisors LLC grew its position in CSX by 1.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after acquiring an additional 304 shares during the period. Team Hewins LLC increased its stake in CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after acquiring an additional 306 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in shares of CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after purchasing an additional 309 shares during the last quarter. Finally, FCA Corp TX grew its holdings in shares of CSX by 0.3% during the 4th quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock worth $4,007,000 after purchasing an additional 339 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Up 2.1 %

Shares of CSX traded up $0.72 during midday trading on Friday, hitting $34.32. The company had a trading volume of 9,975,650 shares, compared to its average volume of 10,388,902. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm has a market capitalization of $67.09 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.82 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The company’s 50-day simple moving average is $33.45 and its 200-day simple moving average is $35.05.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analysts Set New Price Targets

CSX has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. UBS Group decreased their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Wells Fargo & Company began coverage on CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Finally, Sanford C. Bernstein lifted their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.14.

About CSX

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.