CSX Co. (NASDAQ:CSX) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC trimmed its stake in CSX Co. (NASDAQ:CSX) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,551 shares of the transportation company’s stock after selling 1,429 shares during the quarter. Transcend Capital Advisors LLC’s holdings in CSX were worth $986,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Valley Wealth Managers Inc. lifted its stake 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 acquired a new position in CSX in the 3rd quarter valued at $31,000. Sierra Ocean LLC purchased a new position in shares of CSX during the 4th quarter worth $33,000. Center for Financial Planning Inc. boosted its holdings in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares during the last quarter. Finally, Addison Advisors LLC grew its position in shares of CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. cut their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada lowered their target price 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. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Finally, Raymond James reiterated an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Six 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, CSX currently has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Down 0.5 %

Shares of NASDAQ CSX opened at $32.30 on Friday. The stock has a fifty day moving average price of $32.63 and a 200 day moving average price of $33.77. The company has a market cap of $62.29 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted 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%. Research analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 26.82%.

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.