Legacy Financial Advisors Inc. Sells 363 Shares of CSX Co. (NASDAQ:CSX)

Legacy Financial Advisors Inc. cut its position in CSX Co. (NASDAQ:CSX) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,976 shares of the transportation company’s stock after selling 363 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in CSX were worth $322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of CSX during the fourth quarter worth approximately $780,194,000. Bank of New York Mellon Corp increased its position in CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after acquiring an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in CSX by 471.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after acquiring an additional 5,568,624 shares during the period. Invesco Ltd. boosted its holdings in CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock valued at $810,076,000 after purchasing an additional 2,977,212 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in CSX in the 4th quarter worth $85,959,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CSX shares. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Citigroup reduced their price objective on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Robert W. Baird reduced their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Royal Bank of Canada lowered their price target on shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

CSX Stock Performance

CSX stock opened at $28.01 on Friday. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The stock has a 50-day simple moving average of $30.58 and a 200 day simple moving average of $32.72. 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 stock has a market capitalization of $52.79 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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%. On average, research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is presently 29.05%.

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.