TD Private Client Wealth LLC Sells 823 Shares of CSX Co. (NASDAQ:CSX)

TD Private Client Wealth LLC cut its stake in shares of CSX Co. (NASDAQ:CSX) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,247 shares of the transportation company’s stock after selling 823 shares during the period. TD Private Client Wealth LLC’s holdings in CSX were worth $879,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in shares of CSX by 0.6% during the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after buying an additional 455,258 shares in the last quarter. Geode Capital Management LLC raised its stake in CSX by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after acquiring an additional 190,346 shares during the period. Fisher Asset Management LLC lifted its holdings in CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after purchasing an additional 299,536 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after purchasing an additional 6,730,316 shares during the period. Finally, FMR LLC increased its stake in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $29.57 on Monday. The business’s 50 day moving average price is $32.03 and its 200-day moving average price is $33.34. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.40. The company has a market cap of $56.02 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. Sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.76%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CSX. 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. JPMorgan Chase & Co. dropped their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Stephens reissued an “overweight” rating and set a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price objective 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 company has an average rating of “Moderate Buy” and a consensus target price of $37.00.

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.