CSX Co. (NASDAQ:CSX) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lowered its position in shares of CSX Co. (NASDAQ:CSX) by 21.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 84,488 shares of the transportation company’s stock after selling 23,469 shares during the quarter. Independent Advisor Alliance’s holdings in CSX were worth $2,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Trust Co increased its holdings in shares of CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC acquired a new stake in shares of CSX during the 4th quarter worth approximately $1,084,000. Thrivent Financial for Lutherans increased its holdings in shares of CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after buying an additional 24,430 shares during the last quarter. Carnegie Investment Counsel increased its holdings in CSX by 1.4% in the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in CSX by 6.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after purchasing an additional 41,547 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CSX shares. Citigroup dropped their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Raymond James reiterated an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. BMO Capital Markets dropped their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Wells Fargo & Company dropped their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.00.

CSX Price Performance

CSX stock opened at $29.55 on Thursday. The stock has a market cap of $55.99 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a fifty day simple moving average of $32.34 and a 200-day simple moving average of $33.55. CSX Co. has a 12-month low of $29.29 and a 12-month high of $38.03. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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%. Equities analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.13 dividend. The ex-dividend date is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. CSX’s payout ratio is 29.05%.

CSX Company 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.