PFG Advisors Sells 9,963 Shares of CSX Co. (NASDAQ:CSX)

PFG Advisors lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 52.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,200 shares of the transportation company’s stock after selling 9,963 shares during the quarter. PFG Advisors’ holdings in CSX were worth $297,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CSX. Bank of New York Mellon Corp increased its position 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 acquiring an additional 6,730,316 shares during the period. Raymond James Financial Inc. bought a new position in CSX during the fourth quarter worth $85,959,000. Perpetual Ltd bought a new stake in CSX in the 4th quarter valued at $83,301,000. River Road Asset Management LLC bought a new stake in CSX in the 4th quarter valued at $46,861,000. Finally, FMR LLC increased its holdings in CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after buying an additional 1,447,651 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 3.0 %

Shares of NASDAQ CSX opened at $30.01 on Friday. The firm’s 50-day simple moving average is $32.23 and its 200 day simple moving average is $33.49. The company has a market cap of $56.86 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. 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 12-month low of $28.98 and a 12-month high of $38.03.

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

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. CSX’s dividend payout ratio is presently 29.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, January 10th. BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Raymond James reissued an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 price target on the stock. Finally, Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

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.