Advisory Services Network LLC Sells 13,719 Shares of CSX Co. (NASDAQ:CSX)

Advisory Services Network LLC decreased its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,892 shares of the transportation company's stock after selling 13,719 shares during the quarter. Advisory Services Network LLC's holdings in CSX were worth $1,997,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its position in CSX by 6.3% during the third quarter. Wellington Management Group LLP now owns 102,550 shares of the transportation company's stock worth $3,541,000 after buying an additional 6,055 shares in the last quarter. TCW Group Inc. raised its stake in CSX by 32.7% in the 3rd quarter. TCW Group Inc. now owns 49,225 shares of the transportation company's stock valued at $1,700,000 after purchasing an additional 12,142 shares during the last quarter. Tudor Financial Inc. purchased a new position in CSX in the 3rd quarter valued at about $473,000. Sanctuary Advisors LLC lifted its holdings in CSX by 10.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 166,381 shares of the transportation company's stock valued at $5,953,000 after purchasing an additional 16,073 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of CSX by 137.4% during the third quarter. World Investment Advisors LLC now owns 16,145 shares of the transportation company's stock worth $557,000 after buying an additional 9,344 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

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CSX Price Performance

Shares of CSX traded down $0.37 during trading hours on Tuesday, hitting $27.90. 13,835,304 shares of the company were exchanged, compared to its average volume of 12,687,858. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a market capitalization of $52.58 billion, a PE ratio of 15.59, a PEG ratio of 1.92 and a beta of 1.23. The firm has a fifty day simple moving average of $30.49 and a 200-day simple moving average of $32.67. CSX Co. has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) 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%. As a group, sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced 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 represents a $0.52 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is 29.05%.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of analyst reports. Royal Bank of Canada decreased their target price on shares of CSX from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. Susquehanna decreased their price objective on CSX from $39.00 to $37.00 and set a "positive" rating on the stock in a report on Thursday, March 27th. Robert W. Baird dropped their target price on CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Barclays decreased their price target on CSX from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of CSX from $34.00 to $31.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.55.

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.