TFG Advisers LLC Decreases Stock Position in CSX Co. (NASDAQ:CSX)

TFG Advisers LLC lowered its stake in CSX Co. (NASDAQ:CSX) by 8.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,507 shares of the transportation company’s stock after selling 499 shares during the quarter. TFG Advisers LLC’s holdings in CSX were worth $204,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. EP Wealth Advisors LLC raised its position in shares of CSX by 414.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 51,534 shares of the transportation company’s stock valued at $1,585,000 after buying an additional 41,524 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of CSX during the 3rd quarter valued at about $160,000. American Century Companies Inc. raised its position in CSX by 25.4% in the 3rd quarter. American Century Companies Inc. now owns 1,169,113 shares of the transportation company’s stock worth $35,950,000 after purchasing an additional 236,666 shares during the period. Wellington Management Group LLP raised its position in CSX by 27.4% in the 3rd quarter. Wellington Management Group LLP now owns 83,800 shares of the transportation company’s stock worth $2,577,000 after purchasing an additional 18,043 shares during the period. Finally, Fortis Group Advisors LLC purchased a new stake in CSX in the 3rd quarter worth about $93,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.5 %

Shares of CSX stock traded up $0.17 during trading hours on Friday, reaching $33.91. 1,408,782 shares of the company’s stock were exchanged, compared to its average volume of 11,776,400. The stock’s 50 day moving average is $33.37 and its 200-day moving average is $35.07. The company has a market cap of $66.29 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.78 and a beta of 1.20. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion for 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%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. Analysts predict that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s payout ratio is 26.37%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Monday. Sanford C. Bernstein increased their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday. Stifel Nicolaus increased their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Wells Fargo & Company initiated coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.39.

CSX Company 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.