Summit Global Investments cut its position in CSX Co. (NASDAQ:CSX - Free Report) by 84.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,867 shares of the transportation company's stock after selling 58,004 shares during the quarter. Summit Global Investments' holdings in CSX were worth $351,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in CSX during the 4th quarter worth $37,000. Mindset Wealth Management LLC increased its stake in shares of CSX by 135.3% during the fourth quarter. Mindset Wealth Management LLC now owns 13,912 shares of the transportation company's stock worth $449,000 after acquiring an additional 8,000 shares during the period. Lee Danner & Bass Inc. purchased a new position in CSX during the fourth quarter worth about $177,000. Antonelli Financial Advisors LLC acquired a new stake in CSX in the fourth quarter valued at about $325,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in CSX by 6.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 9,193 shares of the transportation company's stock valued at $297,000 after purchasing an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on CSX shares. Deutsche Bank Aktiengesellschaft began coverage on CSX in a report on Friday, March 7th. They issued a "hold" rating and a $34.00 target price for the company. Stephens reiterated an "overweight" rating and issued a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Wells Fargo & Company lowered their target price on shares of CSX from $34.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Thursday. Barclays reduced their price target on shares of CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Finally, Royal Bank of Canada lowered their price target on CSX from $34.00 to $33.00 and set a "sector perform" rating on the stock in a 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 data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average price target of $36.75.
View Our Latest Stock Analysis on CSX
CSX Trading Down 0.9 %
Shares of NASDAQ:CSX traded down $0.26 during midday trading on Thursday, reaching $29.65. The company's stock had a trading volume of 2,439,917 shares, compared to its average volume of 11,703,764. The business has a 50 day moving average price of $31.88 and a 200 day moving average price of $33.26. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.18. The firm has a market cap of $56.17 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.
CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data 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 net margin of 23.95% and a return on equity of 28.15%. Research analysts forecast that CSX Co. will post 1.83 EPS for the current year.
CSX Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. 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 dividend yield of 1.75%. CSX's payout ratio is currently 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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