Arkadios Wealth Advisors Acquires 4,773 Shares of CSX Corporation (NASDAQ:CSX)

Arkadios Wealth Advisors grew its position in CSX Corporation (NASDAQ:CSX) by 22.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,276 shares of the transportation company’s stock after purchasing an additional 4,773 shares during the quarter. Arkadios Wealth Advisors’ holdings in CSX were worth $773,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX in the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC bought a new position in shares of CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX in the fourth quarter worth $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in CSX during the first quarter worth $30,000. Finally, Rossby Financial LCC bought a new position in CSX during the first quarter worth $28,000. Institutional investors own 73.57% of the company’s stock.

CSX Trading Down 1.5%

Shares of CSX stock opened at $35.01 on Monday. The firm has a market capitalization of $65.27 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The company’s fifty day moving average price is $33.14 and its two-hundred day moving average price is $31.36. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, analysts expect that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX’s dividend payout ratio is presently 32.10%.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of CSX from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, July 24th. Wells Fargo & Company boosted their target price on shares of CSX from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Baird R W raised shares of CSX to a “strong-buy” rating in a research report on Tuesday, July 1st. Argus set a $32.00 target price on shares of CSX in a research report on Friday, April 25th. Finally, Barclays boosted their target price on shares of CSX from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.