CSX Co. (NASDAQ:CSX) Stake Decreased by Cottage Street Advisors LLC

Cottage Street Advisors LLC reduced its holdings in CSX Co. (NASDAQ:CSX) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,012 shares of the transportation company’s stock after selling 2,347 shares during the quarter. CSX accounts for 1.9% of Cottage Street Advisors LLC’s portfolio, making the stock its 17th largest position. Cottage Street Advisors LLC’s holdings in CSX were worth $3,647,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in CSX during the fourth quarter valued at about $31,000. Sierra Ocean LLC acquired a new position in shares of CSX in the 4th quarter valued at $33,000. Center for Financial Planning Inc. raised its holdings 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 worth $35,000 after buying an additional 720 shares during the period. Atala Financial Inc purchased a new stake in CSX during the fourth quarter valued at about $36,000. Finally, Millstone Evans Group LLC acquired a new position in shares of CSX in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of several research reports. Robert W. Baird dropped their target price on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Barclays reduced their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Raymond James restated an “outperform” rating and set a $37.00 price target (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Susquehanna reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Stephens reissued an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

CSX Price Performance

CSX stock opened at $29.53 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The business has a 50 day simple moving average of $31.93 and a 200 day simple moving average of $33.28. CSX Co. has a one year low of $28.98 and a one year high of $37.18. The company has a market capitalization of $55.95 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, sell-side analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio (DPR) is currently 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.