Financial Counselors Inc. Reduces Holdings in CSX Co. (NASDAQ:CSX)

Financial Counselors Inc. reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 349,457 shares of the transportation company’s stock after selling 564 shares during the period. Financial Counselors Inc.’s holdings in CSX were worth $11,277,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of CSX in the 4th quarter worth $31,000. Sierra Ocean LLC purchased a new stake in CSX in the fourth quarter worth about $33,000. Center for Financial Planning Inc. raised its stake in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares during the period. Atala Financial Inc purchased a new position in shares of CSX during the 4th quarter valued at about $36,000. Finally, Millstone Evans Group LLC bought a new position in shares of CSX during the 4th quarter valued at approximately $37,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. Wells Fargo & Company dropped their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Finally, Raymond James reiterated an “outperform” rating and set a $37.00 target price (down previously from $38.00) 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

CSX Price Performance

Shares of CSX stock opened at $29.90 on Thursday. The stock has a market cap of $56.65 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $31.88 and a 200-day moving average price of $33.26. CSX Co. has a one year low of $28.98 and a one year high of $37.18.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 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 year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.13 dividend. 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 1.74%. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio is 29.05%.

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.