Vontobel Holding Ltd. Sells 37,143 Shares of CSX Co. (NASDAQ:CSX)

Vontobel Holding Ltd. reduced its position in CSX Co. (NASDAQ:CSX) by 7.9% during the fourth quarter, HoldingsChannel reports. The fund owned 434,516 shares of the transportation company’s stock after selling 37,143 shares during the quarter. Vontobel Holding Ltd.’s holdings in CSX were worth $14,022,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. increased its position in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the period. Morton Brown Family Wealth LLC bought a new stake in shares of CSX during the third quarter valued at about $31,000. Addison Advisors LLC increased its position in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares during the period. Fortitude Family Office LLC increased its position in shares of CSX by 43.4% during the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of CSX during the fourth quarter valued at about $39,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, January 10th. Robert W. Baird decreased their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Six equities research 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, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Performance

Shares of CSX stock opened at $33.37 on Friday. The stock has a fifty day moving average of $32.74 and a 200 day moving average of $33.83. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The firm has a market capitalization of $64.35 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.91 and a beta of 1.23. 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) last announced its quarterly 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%. As a group, research analysts expect that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. CSX’s dividend payout ratio (DPR) is presently 29.05%.

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.