CSX Co. (NASDAQ:CSX) Stake Lessened by Barnett & Company Inc.

Barnett & Company Inc. trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 61,110 shares of the transportation company’s stock after selling 540 shares during the quarter. CSX comprises approximately 1.3% of Barnett & Company Inc.’s holdings, making the stock its 28th largest position. Barnett & Company Inc.’s holdings in CSX were worth $1,972,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. bought a new position in CSX during the third quarter worth $754,000. Meridian Wealth Management LLC acquired a new stake in shares of CSX during the third quarter worth $387,000. Nwam LLC bought a new position in shares of CSX in the 3rd quarter worth about $580,000. Great Valley Advisor Group Inc. boosted its holdings in shares of CSX by 14.4% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 25,899 shares of the transportation company’s stock valued at $894,000 after buying an additional 3,252 shares during the period. Finally, Cerity Partners LLC raised its stake in CSX by 21.3% during the third quarter. Cerity Partners LLC now owns 289,861 shares of the transportation company’s stock worth $10,009,000 after acquiring an additional 50,913 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research reports. Stephens restated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Robert W. Baird reduced their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Raymond James reaffirmed an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Citigroup lowered their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

CSX Stock Down 1.4 %

Shares of CSX stock opened at $29.57 on Monday. The stock’s fifty day moving average is $32.03 and its 200-day moving average is $33.34. 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 firm has a market capitalization of $56.02 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. CSX Co. has a 12-month low of $28.98 and a 12-month high of $37.40.

CSX (NASDAQ:CSX) last issued 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%. Equities analysts anticipate 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 given a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. CSX’s payout ratio is currently 29.05%.

CSX Company 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.