CSX Co. (NASDAQ:CSX) Shares Sold by HM Payson & Co.

HM Payson & Co. reduced its stake in CSX Co. (NASDAQ:CSX) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 345,722 shares of the transportation company’s stock after selling 2,749 shares during the quarter. HM Payson & Co.’s holdings in CSX were worth $11,156,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. increased its position in shares of CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CSX during the fourth quarter worth about $31,000. Sierra Ocean LLC purchased a new stake in CSX during the 4th quarter valued at approximately $33,000. Center for Financial Planning Inc. raised its stake in CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares during the last quarter. Finally, Addison Advisors LLC raised its stake in shares of CSX by 348.5% during the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after buying an additional 812 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of NASDAQ CSX opened at $31.26 on Friday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a 50 day simple moving average of $32.48 and a 200-day simple moving average of $33.62. The company has a market cap of $60.28 billion, a PE ratio of 17.46, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a 12-month low of $30.55 and a 12-month high of $38.35.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, equities research analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.66%. CSX’s payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CSX shares. Stephens reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. BMO Capital Markets cut their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada cut their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Citigroup dropped their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday. They issued a “hold” rating and a $34.00 price target for the company. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.