Capital Bank & Trust Co reduced its position in CSX Co. (NASDAQ:CSX) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,102,219 shares of the transportation company’s stock after selling 204,311 shares during the quarter. Capital Bank & Trust Co owned about 0.14% of CSX worth $79,757,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Evoke Wealth LLC purchased a new position in shares of CSX in the third quarter worth $32,000. Princeton Global Asset Management LLC acquired a new position in CSX in the 3rd quarter worth approximately $35,000. PSI Advisors LLC purchased a new position in CSX during the 4th quarter worth approximately $43,000. Manchester Financial Inc. purchased a new position in CSX during the 4th quarter worth approximately $45,000. Finally, Asset Dedication LLC lifted its stake in CSX by 22.3% during the 4th quarter. Asset Dedication LLC now owns 734 shares of the transportation company’s stock valued at $52,000 after acquiring an additional 134 shares during the period. 73.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ CSX traded up $0.99 during trading on Thursday, hitting $57.52. The company had a trading volume of 1,409,501 shares, compared to its average volume of 8,640,073. The stock has a fifty day simple moving average of $69.01 and a two-hundred day simple moving average of $71.04. CSX Co. has a fifty-two week low of $46.81 and a fifty-two week high of $80.73. The firm has a market capitalization of $42.95 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17. The company has a quick ratio of 1.40, a current ratio of 1.52 and a debt-to-equity ratio of 1.35.
CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 16th. The transportation company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. CSX had a net margin of 27.91% and a return on equity of 27.49%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company posted $1.01 EPS. CSX’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, analysts anticipate that CSX Co. will post 4.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 28th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.81%. This is a boost from CSX’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, February 27th. CSX’s payout ratio is presently 24.94%.
Several research analysts recently issued reports on the stock. Citigroup cut shares of CSX from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $75.00 in a report on Tuesday, December 10th. Morgan Stanley upgraded CSX from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $52.00 to $47.00 in a research note on Monday. Evercore ISI assumed coverage on CSX in a report on Thursday. They issued an “outperform” rating and a $68.00 price objective for the company. Deutsche Bank lowered their target price on CSX from $90.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Finally, Royal Bank of Canada reaffirmed a “neutral” rating on shares of CSX in a report on Wednesday, March 18th. Nineteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. CSX presently has a consensus rating of “Hold” and a consensus target price of $75.77.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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