Delta Investment Management LLC Sells 1,158 Shares of CSX Co. (NASDAQ:CSX)

Delta Investment Management LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 40,530 shares of the transportation company’s stock after selling 1,158 shares during the quarter. Delta Investment Management LLC’s holdings in CSX were worth $1,405,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in CSX during the fourth quarter valued at approximately $27,000. Life Planning Partners Inc acquired a new position in CSX during the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in CSX during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC raised its position in CSX by 228.4% during the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 692 shares in the last quarter. Finally, Avion Wealth raised its position in CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 820 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

NASDAQ CSX opened at $33.99 on Friday. The company has a market capitalization of $66.45 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.04 and a beta of 1.18. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The stock has a fifty day simple moving average of $36.61 and a 200 day simple moving average of $34.49. 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 posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. CSX’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. Sell-side analysts expect that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

Several brokerages have commented on CSX. Susquehanna boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. BMO Capital Markets boosted their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Bank of America lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Royal Bank of Canada lowered their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average 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.