CSX Co. (NASDAQ:CSX) Stock Position Trimmed by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 67.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 831,912 shares of the transportation company's stock after selling 1,730,354 shares during the quarter. Corient Private Wealth LLC's holdings in CSX were worth $25,883,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CSX. Diversified Trust Co grew its position in shares of CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company's stock valued at $2,330,000 after purchasing an additional 46,473 shares during the period. Marshall Financial Group LLC purchased a new position in shares of CSX during the 4th quarter worth about $1,084,000. Carnegie Investment Counsel boosted its position in shares of CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company's stock worth $19,751,000 after acquiring an additional 8,474 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in CSX by 6.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company's stock valued at $22,549,000 after purchasing an additional 41,547 shares during the period. Finally, Waycross Partners LLC raised its stake in CSX by 7.0% during the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company's stock worth $19,990,000 after purchasing an additional 40,611 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

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CSX Stock Performance

Shares of NASDAQ CSX traded down $0.41 during trading on Friday, reaching $29.57. The stock had a trading volume of 25,368,757 shares, compared to its average volume of 11,733,693. The firm's 50 day moving average price is $32.03 and its two-hundred day moving average price is $33.36. CSX Co. has a one year low of $28.98 and a one year high of $38.03. The stock has a market cap of $56.02 billion, a PE 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 - Get Free Report) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Benchmark restated a "buy" rating and set a $38.00 price objective on shares of CSX in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research note on Friday, March 7th. They issued a "hold" rating and a $34.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Wells Fargo & Company reduced their price target on shares of CSX from $36.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. Finally, Raymond James reissued an "outperform" rating and issued a $37.00 price objective (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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.