Ieq Capital LLC Sells 66,373 Shares of CSX Co. (NASDAQ:CSX)

Ieq Capital LLC cut its stake in CSX Co. (NASDAQ:CSX) by 61.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,243 shares of the transportation company’s stock after selling 66,373 shares during the period. Ieq Capital LLC’s holdings in CSX were worth $1,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Private Advisor Group LLC lifted its stake in shares of CSX by 45.9% in the fourth quarter. Private Advisor Group LLC now owns 167,552 shares of the transportation company’s stock valued at $5,407,000 after buying an additional 52,714 shares during the period. Alberta Investment Management Corp lifted its position in shares of CSX by 36.0% in the 4th quarter. Alberta Investment Management Corp now owns 342,026 shares of the transportation company’s stock worth $11,037,000 after acquiring an additional 90,464 shares during the period. Waycross Partners LLC lifted its position in shares of CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after acquiring an additional 40,611 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of CSX during the 4th quarter worth approximately $75,000. Finally, Atria Wealth Solutions Inc. increased its position in shares of CSX by 28.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 75,679 shares of the transportation company’s stock valued at $2,442,000 after purchasing an additional 16,551 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CSX shares. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Raymond James reaffirmed an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Finally, Royal Bank of Canada lowered their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Performance

Shares of CSX stock opened at $31.81 on Tuesday. 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 50 day simple moving average of $32.61 and a 200 day simple moving average of $33.75. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $38.70. The firm has a market cap of $61.34 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. Sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

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.