MTM Investment Management LLC Sells 700 Shares of CSX Co. (NASDAQ:CSX)

MTM Investment Management LLC decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,090 shares of the transportation company’s stock after selling 700 shares during the period. CSX makes up about 0.9% of MTM Investment Management LLC’s investment portfolio, making the stock its 29th largest holding. MTM Investment Management LLC’s holdings in CSX were worth $2,230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in CSX. Valley Wealth Managers Inc. increased its position in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC bought a new stake in shares of CSX during the third quarter worth $31,000. Addison Advisors LLC increased its position in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after acquiring an additional 812 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of CSX by 43.4% during the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock worth $38,000 after acquiring an additional 336 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of CSX during the fourth quarter worth $39,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX stock opened at $32.92 on Thursday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market cap of $63.48 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. The company has a 50 day moving average of $32.82 and a 200-day moving average of $33.84. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12.

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 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%. As a group, equities research analysts forecast that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.58%. CSX’s payout ratio is presently 26.82%.

Analyst Ratings Changes

CSX has been the subject of a number of analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Stifel Nicolaus cut their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Citigroup cut their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Friday, January 10th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.16.

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.