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

Transcend Capital Advisors LLC lowered its holdings in CSX Co. (NASDAQ:CSX) by 4.5% in the fourth quarter, HoldingsChannel reports. The firm owned 30,551 shares of the transportation company’s stock after selling 1,429 shares during the period. Transcend Capital Advisors LLC’s holdings in CSX were worth $986,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after buying an additional 80,423 shares during the last quarter. Diversified Trust Co raised its holdings in 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 acquiring an additional 46,473 shares in the last quarter. Marshall Financial Group LLC bought a new position in CSX during the 4th quarter valued at $1,084,000. Thrivent Financial for Lutherans grew its holdings in CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after acquiring an additional 24,430 shares in the last quarter. Finally, Carnegie Investment Counsel grew its holdings in CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after acquiring an additional 8,474 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the topic of several research analyst reports. Robert W. Baird reduced their price target 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. JPMorgan Chase & Co. reduced their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Trading Down 0.5 %

Shares of NASDAQ:CSX opened at $32.30 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average price is $32.63 and its 200 day moving average price is $33.77. The company has a market cap of $62.29 billion, a PE ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results 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%. Sell-side analysts anticipate that CSX Co. will post 1.83 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. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 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.