HM Payson & Co. Reduces Stock Position in CSX Co. (NASDAQ:CSX)

HM Payson & Co. reduced its position in shares of CSX Co. (NASDAQ:CSX) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 346,364 shares of the transportation company’s stock after selling 17,554 shares during the period. HM Payson & Co.’s holdings in CSX were worth $25,063,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CSX. Evoke Wealth LLC purchased a new stake in CSX in the third quarter worth about $32,000. Princeton Global Asset Management LLC bought a new position in shares of CSX during the third quarter valued at approximately $35,000. PSI Advisors LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $43,000. Manchester Financial Inc. bought a new position in shares of CSX during the fourth quarter valued at approximately $45,000. Finally, Asset Dedication LLC increased its stake in shares of CSX by 22.3% during the fourth quarter. Asset Dedication LLC now owns 734 shares of the transportation company’s stock valued at $52,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 73.94% of the company’s stock.

CSX stock traded down $0.24 on Thursday, hitting $56.29. The company had a trading volume of 1,006,517 shares, compared to its average volume of 8,640,073. CSX Co. has a 12-month low of $46.81 and a 12-month high of $80.73. The company has a current ratio of 1.52, a quick ratio of 1.40 and a debt-to-equity ratio of 1.35. The stock’s 50-day simple moving average is $69.01 and its 200 day simple moving average is $71.04. The stock has a market cap of $42.95 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.61 and a beta of 1.17.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 16th. The transportation company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.94 billion. CSX had a net margin of 27.91% and a return on equity of 27.49%. CSX’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 EPS. Research analysts forecast that CSX Co. will post 4.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 28th were issued a $0.26 dividend. This is an increase from CSX’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, February 27th. CSX’s payout ratio is currently 24.94%.

CSX has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a “neutral” rating on shares of CSX in a research note on Wednesday, March 18th. Susquehanna Bancshares raised shares of CSX from a “neutral” rating to a “positive” rating and raised their target price for the company from $74.00 to $87.00 in a research note on Tuesday, January 7th. Evercore ISI initiated coverage on shares of CSX in a research note on Thursday. They set an “outperform” rating and a $68.00 target price for the company. Benchmark initiated coverage on shares of CSX in a research note on Tuesday, January 21st. They set a “hold” rating for the company. Finally, BidaskClub raised shares of CSX from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Nineteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. CSX has a consensus rating of “Hold” and an average price target of $75.77.

About CSX

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.

Read More: What are the benefits of investing in REITs?

Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX).

Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.