Van ECK Associates Corp Decreases Stake in CSX Co. (NASDAQ:CSX)

Van ECK Associates Corp reduced its position in CSX Co. (NASDAQ:CSX) by 37.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,027 shares of the transportation company’s stock after selling 356,751 shares during the period. Van ECK Associates Corp’s holdings in CSX were worth $19,363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. boosted its position in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC bought a new position in shares of CSX during the third quarter worth about $31,000. Addison Advisors LLC lifted its position 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 worth $36,000 after purchasing an additional 812 shares during the last quarter. Fortitude Family Office LLC lifted its position in shares of 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 purchasing an additional 336 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of CSX during the fourth quarter worth about $41,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on CSX shares. Citigroup reduced their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company reduced their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. BMO Capital Markets dropped their price objective 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. Stephens reiterated an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Finally, Susquehanna dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Price Performance

NASDAQ CSX opened at $33.37 on Friday. CSX Co. has a 12 month low of $31.43 and a 12 month 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 PE ratio of 18.64, a P/E/G ratio of 1.91 and a beta of 1.23. The company’s 50 day simple moving average is $32.74 and its 200 day simple moving average is $33.83.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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%. As a group, equities research analysts forecast that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. 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 currently 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.