Nations Financial Group Inc. IA ADV Lowers Position in CSX Co. (NASDAQ:CSX)

Nations Financial Group Inc. IA ADV reduced its position in shares of CSX Co. (NASDAQ:CSX) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,967 shares of the transportation company’s stock after selling 893 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in CSX were worth $612,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. increased its position in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new stake in shares of CSX during the third quarter worth about $31,000. Center for Financial Planning Inc. raised its position in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the last quarter. Addison Advisors LLC lifted its stake 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 valued at $36,000 after buying an additional 812 shares during the period. Finally, Fortitude Family Office LLC boosted its position in 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 during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Raymond James reissued an “outperform” rating and set a $37.00 price target (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Citigroup cut their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. BMO Capital Markets decreased their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Up 0.8 %

CSX stock opened at $33.37 on Tuesday. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The firm has a market capitalization of $64.35 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.91 and a beta of 1.23. The company’s 50 day simple moving average is $32.72 and its 200 day simple moving average is $33.80.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that CSX Co. will post 1.86 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 26.82%.

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.