Corient Private Wealth LLC Has $25.88 Million Stake in CSX Co. (NASDAQ:CSX)

Corient Private Wealth LLC trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 67.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 831,912 shares of the transportation company’s stock after selling 1,730,354 shares during the period. Corient Private Wealth LLC’s holdings in CSX were worth $25,883,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in CSX by 3.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 118,337 shares of the transportation company’s stock valued at $3,819,000 after buying an additional 3,533 shares during the period. Choate Investment Advisors lifted its holdings in CSX by 7.1% in the fourth quarter. Choate Investment Advisors now owns 21,257 shares of the transportation company’s stock valued at $686,000 after buying an additional 1,417 shares during the period. Natixis Advisors LLC lifted its holdings in CSX by 37.6% in the fourth quarter. Natixis Advisors LLC now owns 908,178 shares of the transportation company’s stock valued at $29,307,000 after buying an additional 248,220 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in CSX by 6.1% in the fourth quarter. Frank Rimerman Advisors LLC now owns 23,997 shares of the transportation company’s stock valued at $774,000 after buying an additional 1,386 shares during the period. Finally, Catalyst Funds Management Pty Ltd lifted its holdings in CSX by 154.5% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 8,400 shares of the transportation company’s stock valued at $271,000 after buying an additional 5,100 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of several analyst reports. BMO Capital Markets cut their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $38.00 target price on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price on the stock. Citigroup cut their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Wells Fargo & Company cut their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued 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 target price of $37.00.

CSX Stock Down 0.2 %

CSX stock opened at $30.26 on Wednesday. The company has a market cap of $57.33 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. CSX Co. has a 1-year low of $28.98 and a 1-year high of $38.03. The company has a fifty day simple moving average of $32.16 and a 200 day simple moving average of $33.44. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its 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%. 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

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.