Pinnacle Wealth Management Advisory Group LLC Sells 1,798 Shares of CSX Co. (NASDAQ:CSX)

Pinnacle Wealth Management Advisory Group LLC reduced its holdings in CSX Co. (NASDAQ:CSX) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,535 shares of the transportation company’s stock after selling 1,798 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in CSX were worth $1,534,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. increased its position in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares during the period. Morton Brown Family Wealth LLC bought a new position in CSX in the 3rd quarter worth approximately $31,000. Center for Financial Planning Inc. increased its position in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares during the period. Addison Advisors LLC increased its position in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the period. Finally, Fortitude Family Office LLC increased its position in shares of CSX by 43.4% during the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 336 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

CSX stock opened at $33.37 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm has a market cap of $64.35 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.91 and a beta of 1.23. The business’s fifty day moving average is $32.72 and its two-hundred day moving average is $33.82. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. Equities research analysts forecast that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 26.82%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup lowered their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada lowered their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Stephens restated an “overweight” rating and set a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Raymond James restated an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Finally, Robert W. Baird lowered their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

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.