CSX Co. (NASDAQ:CSX) Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lowered its stake in CSX Co. (NASDAQ:CSX) by 97.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,488 shares of the transportation company’s stock after selling 445,518 shares during the period. Pathway Financial Advisers LLC’s holdings in CSX were worth $435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CSX. Valley Wealth Managers Inc. boosted its holdings in shares of CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in CSX during the third quarter valued at $31,000. Addison Advisors LLC lifted its position in CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the period. Fortitude Family Office LLC boosted its holdings in CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 336 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in CSX during the 4th quarter worth about $39,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the topic of a number of recent research reports. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. TD Cowen lowered their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Royal Bank of Canada decreased their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Finally, BMO Capital Markets dropped their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Performance

NASDAQ CSX opened at $32.92 on Thursday. The stock has a fifty day simple moving average of $32.77 and a 200-day simple moving average of $33.83. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $63.48 billion, a PE ratio of 18.39, a P/E/G ratio of 1.91 and a beta of 1.23. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities analysts anticipate that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.58%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 26.82%.

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.