Ceeto Capital Group LLC Sells 4,000 Shares of CSX Co. (NASDAQ:CSX)

Ceeto Capital Group LLC reduced its position in shares of CSX Co. (NASDAQ:CSX) by 20.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,000 shares of the transportation company’s stock after selling 4,000 shares during the period. Ceeto Capital Group LLC’s holdings in CSX were worth $593,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of CSX by 27.4% in the third quarter. Wellington Management Group LLP now owns 83,800 shares of the transportation company’s stock valued at $2,577,000 after buying an additional 18,043 shares during the last quarter. Mutual Advisors LLC raised its stake in shares of CSX by 21.8% in the fourth quarter. Mutual Advisors LLC now owns 11,176 shares of the transportation company’s stock worth $387,000 after acquiring an additional 2,000 shares during the last quarter. Raymond James & Associates lifted its position in shares of CSX by 6.2% during the fourth quarter. Raymond James & Associates now owns 1,682,049 shares of the transportation company’s stock worth $58,317,000 after purchasing an additional 97,505 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of CSX by 1.5% during the fourth quarter. Pacer Advisors Inc. now owns 225,042 shares of the transportation company’s stock valued at $7,802,000 after purchasing an additional 3,226 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $255,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company started coverage on shares of CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. Stifel Nicolaus upped their price target on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Jefferies Financial Group lowered their price objective on 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 downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Monday, July 8th. Finally, Sanford C. Bernstein raised their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.14.

CSX Trading Up 2.1 %

CSX stock traded up $0.72 during mid-day trading on Friday, hitting $34.32. 9,975,650 shares of the company’s stock were exchanged, compared to its average volume of 10,388,902. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $67.09 billion, a P/E ratio of 18.86, a PEG ratio of 1.86 and a beta of 1.20. The company’s 50 day simple moving average is $33.45 and its 200-day simple moving average is $35.05.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.