Viawealth LLC Cuts Position in CSX Co. (NASDAQ:CSX)

Viawealth LLC decreased its position in shares of CSX Co. (NASDAQ:CSX) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,516 shares of the transportation company’s stock after selling 1,214 shares during the period. Viawealth LLC’s holdings in CSX were worth $468,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in CSX by 0.6% in the 3rd 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 lifted its holdings in shares of CSX by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after acquiring an additional 190,346 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of CSX by 1.2% in the 4th 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of CSX by 40.5% during the 4th 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 raised its position in CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $30.07 on Thursday. The business’s fifty day moving average is $32.12 and its 200 day moving average is $33.41. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a market cap of $56.97 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a twelve month low of $28.98 and a twelve month high of $38.03.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Research analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Wall Street Analyst Weigh In

CSX has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Robert W. Baird decreased their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Stephens reissued an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Friday, January 10th. Finally, Barclays dropped their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.