CSX Co. (NASDAQ:CSX) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC lessened its holdings in CSX Co. (NASDAQ:CSX) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,333 shares of the transportation company’s stock after selling 2,212 shares during the quarter. Modera Wealth Management LLC’s holdings in CSX were worth $979,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. grew its holdings in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. Sierra Ocean LLC acquired a new position in CSX during the 4th quarter valued at approximately $33,000. Center for Financial Planning Inc. grew its stake in CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares during the last quarter. Addison Advisors LLC increased its position in CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after buying an additional 812 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new stake in CSX in the fourth quarter valued at $39,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $31.93 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’s 50 day moving average is $32.59 and its 200-day moving average is $33.69. CSX Co. has a 12-month low of $31.43 and a 12-month high of $38.61. The stock has a market capitalization of $61.57 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.92 and a beta of 1.23.

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%. Equities research analysts anticipate that CSX Co. will post 1.83 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 given a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.63%. CSX’s payout ratio is 29.05%.

Wall Street Analyst Weigh In

CSX has been the subject of several recent research reports. Robert W. Baird lowered their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. BMO Capital Markets dropped 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. JPMorgan Chase & Co. cut their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Raymond James reissued an “outperform” rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Finally, Citigroup cut their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

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.