Telemus Capital LLC Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Telemus Capital LLC lowered its position in shares of CSX Co. (NASDAQ:CSX) by 1.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 63,543 shares of the transportation company’s stock after selling 838 shares during the quarter. Telemus Capital LLC’s holdings in CSX were worth $2,203,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in CSX during the 4th quarter valued at $27,000. Life Planning Partners Inc purchased a new stake in CSX during the 4th quarter valued at $27,000. Venturi Wealth Management LLC lifted its position in shares of CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after purchasing an additional 692 shares during the period. Janiczek Wealth Management LLC lifted its position in shares of CSX by 897.2% in the 3rd quarter. Janiczek Wealth Management LLC now owns 1,067 shares of the transportation company’s stock worth $33,000 after purchasing an additional 960 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in CSX during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.8 %

CSX opened at $34.62 on Tuesday. The firm has a 50-day simple moving average of $36.83 and a two-hundred day simple moving average of $34.43. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a market capitalization of $67.68 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts forecast that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.12 dividend. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. BMO Capital Markets lifted their target price on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Jefferies Financial Group dropped their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. TD Cowen raised their price objective on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Stifel Nicolaus upped their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

About CSX

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.