Osaic Holdings Inc. Sells 197,463 Shares of CSX Co. (NASDAQ:CSX)

Osaic Holdings Inc. reduced its stake in CSX Co. (NASDAQ:CSX) by 29.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 464,481 shares of the transportation company’s stock after selling 197,463 shares during the quarter. Osaic Holdings Inc.’s holdings in CSX were worth $17,215,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CSX. Fortitude Family Office LLC bought a new stake in shares of CSX in the fourth quarter valued at about $27,000. Life Planning Partners Inc acquired a new stake in CSX in the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in CSX in the 1st quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of CSX during the 4th quarter worth approximately $34,000. Finally, Burkett Financial Services LLC bought a new position in shares of CSX during the fourth quarter worth approximately $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 0.5 %

NASDAQ CSX traded down $0.18 during trading hours on Monday, reaching $34.51. The company’s stock had a trading volume of 10,511,260 shares, compared to its average volume of 11,773,814. The firm has a fifty day simple moving average of $33.46 and a 200-day simple moving average of $35.08. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The stock has a market cap of $67.46 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.88 and a beta of 1.20.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s payout ratio is currently 26.37%.

Analyst Ratings Changes

A number of research analysts recently commented on CSX shares. Jefferies Financial Group decreased their price target on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Royal Bank of Canada cut their target price on 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 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. Finally, Susquehanna reduced their price objective on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research note on Tuesday, June 25th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $38.07.

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.