CSX Co. (NASDAQ:CSX) Shares Sold by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC decreased its holdings in CSX Co. (NASDAQ:CSX) by 5.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 68,770 shares of the transportation company’s stock after selling 4,333 shares during the period. HighPoint Advisor Group LLC’s holdings in CSX were worth $2,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Sector Pension Investment Board boosted its position in shares of CSX by 10.3% in the third quarter. Public Sector Pension Investment Board now owns 82,276 shares of the transportation company’s stock worth $2,841,000 after buying an additional 7,700 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in CSX during the 3rd quarter worth approximately $14,261,000. Erste Asset Management GmbH purchased a new position in CSX in the 3rd quarter worth approximately $2,204,000. FSA Wealth Management LLC acquired a new stake in CSX in the third quarter valued at approximately $43,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of CSX during the third quarter worth $1,059,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX stock opened at $29.43 on Tuesday. The company has a 50-day simple moving average of $31.68 and a 200 day simple moving average of $33.17. The company has a market capitalization of $55.47 billion, a P/E ratio of 16.44, a PEG ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.10.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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 return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CSX shares. Robert W. Baird dropped their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Raymond James reaffirmed an “outperform” rating and set a $37.00 target price (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price target on the stock. Benchmark restated a “buy” rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Finally, Stephens reaffirmed an “overweight” rating and issued a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

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.