CSX Co. (NASDAQ:CSX) Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC lowered its position in CSX Co. (NASDAQ:CSX) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,090 shares of the transportation company’s stock after selling 716 shares during the quarter. Kanawha Capital Management LLC’s holdings in CSX were worth $1,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. boosted its holdings in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of CSX during the third quarter worth about $31,000. Addison Advisors LLC lifted its stake 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 worth $36,000 after purchasing an additional 812 shares in the last quarter. Fortitude Family Office LLC lifted its stake 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 worth $38,000 after purchasing an additional 336 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in shares of CSX during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent research reports. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Friday, January 10th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Wells Fargo & Company cut their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Robert W. Baird cut their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Susquehanna cut their price target on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Up 0.5 %

CSX opened at $33.10 on Friday. CSX Co. has a 12 month low of $31.43 and a 12 month high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a market cap of $63.83 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.91 and a beta of 1.23. The stock’s 50 day moving average price is $32.77 and its 200 day moving average price is $33.83.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, research analysts predict that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio (DPR) is presently 26.82%.

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.