Providence Capital Advisors LLC lowered its stake in CSX Co. (NASDAQ:CSX - Free Report) by 95.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,733 shares of the transportation company's stock after selling 173,000 shares during the period. Providence Capital Advisors LLC's holdings in CSX were worth $250,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter worth about $31,000. Sierra Ocean LLC bought a new position in CSX during the 4th quarter worth approximately $33,000. Center for Financial Planning Inc. grew its position in shares of CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock worth $35,000 after acquiring an additional 720 shares in the last quarter. Atala Financial Inc bought a new stake in shares of CSX in the 4th quarter valued at approximately $36,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of CSX during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 73.57% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on CSX. Jefferies Financial Group upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $37.00 target price for the company in a research note on Friday, January 10th. Royal Bank of Canada decreased their price target on shares of CSX from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. Wells Fargo & Company dropped their price objective on shares of CSX from $34.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Thursday. BMO Capital Markets decreased their target price on CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Finally, Raymond James reaffirmed an "outperform" rating and set a $37.00 target price (down from $38.00) on shares of CSX in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.75.
View Our Latest Stock Analysis on CSX
CSX Trading Up 1.5 %
Shares of NASDAQ:CSX traded up $0.45 during mid-day trading on Monday, hitting $29.56. The stock had a trading volume of 9,717,494 shares, compared to its average volume of 12,316,242. The company's 50 day moving average is $31.75 and its 200-day moving average is $33.20. CSX Co. has a 12-month low of $28.87 and a 12-month 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. The company has a market cap of $55.70 billion, a PE ratio of 16.50, a P/E/G ratio of 1.92 and a beta of 1.25.
CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, sell-side analysts predict that CSX Co. will post 1.83 EPS for the current year.
CSX Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. 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 1.76%. CSX's dividend payout ratio (DPR) is presently 29.05%.
About CSX
(
Free Report)
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.
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