Simmons Bank Lowers Holdings in CSX Co. (NASDAQ:CSX)

Simmons Bank trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 24.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,660 shares of the transportation company’s stock after selling 4,500 shares during the quarter. Simmons Bank’s holdings in CSX were worth $441,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. 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 in the fourth quarter worth about $1,084,000. Thrivent Financial for Lutherans raised its holdings in CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after acquiring an additional 24,430 shares during the last quarter. Carnegie Investment Counsel lifted its stake in CSX by 1.4% in the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after purchasing an additional 8,474 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of CSX by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after purchasing an additional 77,488 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Up 0.1 %

NASDAQ CSX opened at $32.01 on Friday. The firm’s fifty day moving average price is $32.60 and its 200 day moving average price is $33.71. The company has a market capitalization of $61.73 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth 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 $38.61. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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 expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analysts Set New Price Targets

CSX has been the subject of a number of analyst reports. Raymond James reissued an “outperform” rating and issued a $37.00 price objective (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Royal Bank of Canada lowered their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. BMO Capital Markets reduced their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX 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.