Larson Financial Group LLC Sells 391 Shares of CSX Co. (NASDAQ:CSX)

Larson Financial Group LLC lowered its stake in CSX Co. (NASDAQ:CSX) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,443 shares of the transportation company’s stock after selling 391 shares during the period. Larson Financial Group LLC’s holdings in CSX were worth $189,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CSX. Assenagon Asset Management S.A. lifted its holdings in shares of CSX by 416.8% during the third quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock worth $155,912,000 after purchasing an additional 4,089,150 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of CSX by 10.4% during the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of CSX by 68.1% during the third quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the transportation company’s stock worth $160,970,000 after purchasing an additional 2,119,965 shares during the period. Barclays PLC lifted its holdings in shares of CSX by 29.0% during the third quarter. Barclays PLC now owns 7,160,597 shares of the transportation company’s stock worth $220,189,000 after purchasing an additional 1,609,942 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of CSX by 43.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock worth $146,128,000 after purchasing an additional 1,446,685 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CSX shares. Jefferies Financial Group cut their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada lowered their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Stifel Nicolaus lifted their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Finally, UBS Group lowered their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

CSX Trading Down 3.0 %

NASDAQ:CSX opened at $33.67 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The firm has a 50-day moving average of $36.73 and a 200-day moving average of $34.45. The company has a market cap of $65.82 billion, a PE ratio of 18.50, a PEG ratio of 2.08 and a beta of 1.18. CSX Co. has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, equities research analysts expect that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s payout ratio is 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.