Cerity Partners LLC Decreases Stake in CSX Co. (NASDAQ:CSX)

Cerity Partners LLC lowered its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 274,430 shares of the transportation company's stock after selling 15,431 shares during the period. Cerity Partners LLC's holdings in CSX were worth $9,022,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. Wellington Management Group LLP lifted its stake in CSX by 6.3% in the third quarter. Wellington Management Group LLP now owns 102,550 shares of the transportation company's stock worth $3,541,000 after purchasing an additional 6,055 shares during the last quarter. Coldstream Capital Management Inc. grew its position in CSX by 4.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 49,446 shares of the transportation company's stock worth $1,714,000 after acquiring an additional 2,189 shares during the last quarter. Toronto Dominion Bank lifted its position in CSX by 64.9% in the third quarter. Toronto Dominion Bank now owns 1,051,028 shares of the transportation company's stock valued at $36,292,000 after purchasing an additional 413,826 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of CSX by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company's stock valued at $830,000 after purchasing an additional 306 shares during the period. Finally, TCW Group Inc. grew its holdings in shares of CSX by 32.7% in the third quarter. TCW Group Inc. now owns 49,225 shares of the transportation company's stock worth $1,700,000 after purchasing an additional 12,142 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

CSX Stock Down 0.3 %

Shares of CSX stock traded down $0.09 during midday trading on Wednesday, hitting $27.82. The company had a trading volume of 5,155,934 shares, compared to its average volume of 12,659,262. The company has a 50 day moving average of $30.39 and a 200 day moving average of $32.63. The stock has a market capitalization of $52.42 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. 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 - Get Free Report) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. On average, equities analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is a boost from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.87%. CSX's payout ratio is 29.05%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday, March 7th. They issued a "hold" rating and a $34.00 target price on the stock. Raymond James decreased their target price on CSX from $37.00 to $34.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Loop Capital cut shares of CSX from a "buy" rating to a "hold" rating and cut their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Robert W. Baird decreased their price objective on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Finally, Citigroup cut their target price on shares of CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, CSX presently has a consensus rating of "Moderate Buy" and an average price target of $35.55.

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.