Bernard Wealth Management Corp. Takes $74,000 Position in CSX Co. (NASDAQ:CSX)

Bernard Wealth Management Corp. acquired a new stake in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,286 shares of the transportation company’s stock, valued at approximately $74,000.

Several other hedge funds have also added to or reduced their stakes in CSX. Jacobs Levy Equity Management Inc. acquired a new position in shares of CSX in the third quarter valued at approximately $211,000. Quadrature Capital Ltd bought a new stake in CSX in the 3rd quarter valued at $600,000. Wellington Management Group LLP boosted its stake in CSX by 6.3% in the 3rd quarter. Wellington Management Group LLP now owns 102,550 shares of the transportation company’s stock worth $3,541,000 after purchasing an additional 6,055 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in CSX by 34.5% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 114,042 shares of the transportation company’s stock worth $3,938,000 after purchasing an additional 29,238 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of CSX by 167.5% in the 3rd quarter. EP Wealth Advisors LLC now owns 124,036 shares of the transportation company’s stock valued at $4,283,000 after purchasing an additional 77,663 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 0.4 %

NASDAQ CSX opened at $27.09 on Tuesday. The stock has a market capitalization of $51.06 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.92 and a beta of 1.23. The business has a 50 day simple moving average of $31.19 and a 200 day simple moving average of $32.97. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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%. Research analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.92%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CSX shares. Royal Bank of Canada reduced their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Raymond James reissued an “outperform” rating and set a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Stephens restated an “overweight” rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

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.