ELCO Management Co. LLC Cuts Position in CSX Co. (NASDAQ:CSX)

ELCO Management Co. LLC lessened its holdings in CSX Co. (NASDAQ:CSX) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,510 shares of the transportation company’s stock after selling 1,175 shares during the quarter. ELCO Management Co. LLC’s holdings in CSX were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSX. SBI Securities Co. Ltd. bought a new position in CSX in the fourth quarter worth $31,000. Sierra Ocean LLC purchased a new position in shares of CSX in the fourth quarter worth $33,000. Center for Financial Planning Inc. lifted 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 period. Meeder Asset Management Inc. lifted its position in CSX by 216.2% during the fourth quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 746 shares during the period. Finally, Atala Financial Inc purchased a new position in shares of CSX in the 4th quarter worth $36,000. Institutional investors own 73.57% of the company’s stock.

CSX Trading Down 1.5 %

Shares of CSX opened at $26.69 on Wednesday. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The firm has a market capitalization of $50.30 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.92 and a beta of 1.23. The stock’s 50-day moving average price is $30.94 and its 200 day moving average price is $32.87. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is presently 29.05%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CSX shares. Robert W. Baird reduced their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. UBS Group cut their price target on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company decreased their target price on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Barclays dropped their price objective on shares of CSX from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada reduced their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.05.

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.