CSX Co. (NASDAQ:CSX) Stake Lessened by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC lessened its stake in CSX Co. (NASDAQ:CSX) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,168 shares of the transportation company’s stock after selling 500 shares during the period. Midland Wealth Advisors LLC’s holdings in CSX were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp increased its stake in shares of CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after buying an additional 455,258 shares during the last quarter. Geode Capital Management LLC increased its stake in CSX by 0.5% during the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after purchasing an additional 190,346 shares during the last quarter. Fisher Asset Management LLC increased its stake in CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after purchasing an additional 299,536 shares during the last quarter. Bank of New York Mellon Corp increased its stake in CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after purchasing an additional 6,730,316 shares during the last quarter. Finally, FMR LLC increased its stake in CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock opened at $30.65 on Tuesday. The company has a market capitalization of $58.07 billion, a P/E ratio of 17.12, a PEG ratio of 1.92 and a beta of 1.25. The company has a 50-day simple moving average of $32.45 and a 200 day simple moving average of $33.61. CSX Co. has a fifty-two week low of $30.55 and a fifty-two week high of $38.35. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.70%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup lowered their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Raymond James reiterated an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Robert W. Baird lowered their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. BMO Capital Markets lowered their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Stephens restated an “overweight” rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.