Metis Global Partners LLC Sells 8,889 Shares of CSX Co. (NASDAQ:CSX)

Metis Global Partners LLC reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 11.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 71,840 shares of the transportation company’s stock after selling 8,889 shares during the period. Metis Global Partners LLC’s holdings in CSX were worth $2,491,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. High Net Worth Advisory Group LLC grew its holdings in CSX by 1.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after acquiring an additional 304 shares during the period. Stratos Wealth Advisors LLC boosted its position in CSX by 1.1% during the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after purchasing an additional 304 shares in the last quarter. Cornercap Investment Counsel Inc. raised its position in shares of CSX by 0.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after purchasing an additional 309 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its position in CSX by 2.4% during the third quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock worth $434,000 after buying an additional 349 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of CSX by 2.0% during the third quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock worth $552,000 after buying an additional 352 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.6 %

Shares of CSX stock opened at $33.89 on Tuesday. The company’s 50 day moving average price is $36.14 and its 200-day moving average price is $34.61. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock has a market capitalization of $66.25 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 2.03 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 EPS. Equities research analysts forecast that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is 26.37%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CSX shares. Susquehanna lifted their price target on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Jefferies Financial Group dropped their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Bank of America dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets increased their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, UBS Group reduced their price objective on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.