CSX Co. (NASDAQ:CSX) Shares Sold by Simmons Bank

Simmons Bank cut its stake in shares of CSX Co. (NASDAQ:CSX) by 22.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,617 shares of the transportation company’s stock after selling 6,078 shares during the quarter. Simmons Bank’s holdings in CSX were worth $715,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CSX. High Net Worth Advisory Group LLC increased its holdings in CSX by 1.7% in the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after buying an additional 304 shares during the period. Stratos Wealth Advisors LLC boosted its stake in shares of CSX by 1.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after buying an additional 304 shares during the last quarter. Cornercap Investment Counsel Inc. raised its position in CSX by 0.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after acquiring an additional 309 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its holdings in CSX by 2.4% in the third quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock valued at $434,000 after acquiring an additional 349 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in CSX by 2.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock worth $552,000 after purchasing an additional 352 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CSX. TD Cowen upped their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. BMO Capital Markets boosted 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. Raymond James increased their target price on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. UBS Group reduced their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.00.

CSX Stock Up 0.6 %

NASDAQ:CSX traded up $0.22 during midday trading on Wednesday, reaching $34.18. The company had a trading volume of 5,470,882 shares, compared to its average volume of 12,162,742. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The firm has a market capitalization of $66.82 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.03 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The stock’s fifty day simple moving average is $36.06 and its 200-day simple moving average is $34.64.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the business posted $0.48 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

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

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.