44 Wealth Management LLC Decreases Holdings in CSX Co. (NASDAQ:CSX)

44 Wealth Management LLC trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,476 shares of the transportation company’s stock after selling 552 shares during the quarter. 44 Wealth Management LLC’s holdings in CSX were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CSX. Valley Wealth Managers Inc. raised its position in shares of CSX by 177.8% during 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 in the last quarter. Morton Brown Family Wealth LLC purchased a new stake in shares of CSX during the 3rd quarter valued at about $31,000. Sierra Ocean LLC purchased a new stake in CSX in the 4th quarter worth about $33,000. Center for Financial Planning Inc. raised its position in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares during the period. Finally, Addison Advisors LLC raised its position in CSX by 348.5% in the 3rd 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 period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, January 10th. Raymond James reissued an “outperform” rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a research report on Friday, January 24th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Susquehanna reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Robert W. Baird reduced their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Price Performance

NASDAQ CSX opened at $32.30 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm’s 50 day moving average price is $32.63 and its 200-day moving average price is $33.77. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a market cap of $62.29 billion, a PE ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23.

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

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.61%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio (DPR) is 26.82%.

CSX 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.