Institute for Wealth Management LLC. Sells 485 Shares of CSX Co. (NASDAQ:CSX)

Institute for Wealth Management LLC. trimmed its stake in CSX Co. (NASDAQ:CSX) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,472 shares of the transportation company’s stock after selling 485 shares during the period. Institute for Wealth Management LLC.’s holdings in CSX were worth $2,513,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC bought a new position in shares of CSX in the 4th quarter valued at approximately $27,000. Life Planning Partners Inc bought a new position in CSX in the 4th quarter worth approximately $27,000. Fortis Capital Advisors LLC bought a new position in CSX in the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC increased its position in CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after buying an additional 692 shares during the period. Finally, Janiczek Wealth Management LLC increased its position in CSX by 897.2% in the 3rd quarter. Janiczek Wealth Management LLC now owns 1,067 shares of the transportation company’s stock worth $33,000 after buying an additional 960 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Trading Down 0.3 %

NASDAQ CSX traded down $0.11 on Friday, reaching $34.28. The company had a trading volume of 6,573,121 shares, compared to its average volume of 12,028,430. The stock’s 50 day moving average is $36.93 and its 200-day moving average is $34.32. The stock has a market cap of $67.11 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.97 and a beta of 1.18. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.88% and a net margin of 24.75%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. Equities analysts predict that CSX Co. will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

Several analysts recently commented on CSX shares. UBS Group decreased their price target on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday. TD Cowen boosted their price target on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. BMO Capital Markets lifted their price objective on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Thursday. Finally, StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.72.

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.