Pinnacle Wealth Management Advisory Group LLC Has $1.80 Million Holdings in CSX Co. (NASDAQ:CSX)

Pinnacle Wealth Management Advisory Group LLC reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,925 shares of the transportation company’s stock after selling 894 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in CSX were worth $1,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Verdence Capital Advisors LLC grew its stake in CSX by 21.7% in the third quarter. Verdence Capital Advisors LLC now owns 9,235 shares of the transportation company’s stock valued at $284,000 after acquiring an additional 1,648 shares during the period. Mackenzie Financial Corp raised its position in CSX by 7.3% during the 3rd quarter. Mackenzie Financial Corp now owns 190,890 shares of the transportation company’s stock valued at $5,874,000 after purchasing an additional 13,055 shares during the last quarter. Brighton Jones LLC lifted its position in CSX by 6.5% during the third quarter. Brighton Jones LLC now owns 11,820 shares of the transportation company’s stock valued at $363,000 after buying an additional 720 shares during the period. Strs Ohio raised its holdings in CSX by 5.1% in the third quarter. Strs Ohio now owns 608,021 shares of the transportation company’s stock worth $18,696,000 after buying an additional 29,297 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in CSX by 3.5% during the third quarter. Park Avenue Securities LLC now owns 61,034 shares of the transportation company’s stock valued at $1,877,000 after purchasing an additional 2,068 shares during the period. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen increased their price objective on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. BMO Capital Markets upped their price target on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group cut their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Finally, Stifel Nicolaus upped their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.00.

CSX Stock Up 0.8 %

NASDAQ CSX traded up $0.26 on Wednesday, reaching $34.22. The stock had a trading volume of 8,092,222 shares, compared to its average volume of 12,196,176. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $66.90 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 2.03 and a beta of 1.19. The business has a 50 day moving average price of $36.06 and a 200 day moving average price of $34.64. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts forecast that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. CSX’s dividend payout ratio (DPR) is 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.