CSX Co. (NASDAQ:CSX) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,333 shares of the transportation company’s stock after selling 2,212 shares during the period. Modera Wealth Management LLC’s holdings in CSX were worth $979,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after purchasing an additional 6,730,316 shares during the period. Perpetual Ltd acquired a new stake in shares of CSX during the 4th quarter worth $83,301,000. FMR LLC raised its position in shares of CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after buying an additional 1,447,651 shares during the period. KBC Group NV boosted its holdings in CSX by 616.4% in the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after acquiring an additional 958,957 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after acquiring an additional 857,302 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CSX shares. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Friday, January 10th. Barclays cut their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Susquehanna cut their target price on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average price target of $37.16.

CSX Price Performance

Shares of NASDAQ CSX opened at $31.93 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $38.61. The business has a 50 day moving average price of $32.59 and a two-hundred day moving average price of $33.69. The firm has a market cap of $61.57 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.63%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is presently 29.05%.

CSX 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.