Grandview Asset Management LLC Sells 2,167 Shares of CSX Co. (NASDAQ:CSX)

Grandview Asset Management LLC lessened its holdings in shares of CSX Co. (NASDAQ:CSXFree Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,611 shares of the transportation company’s stock after selling 2,167 shares during the period. Grandview Asset Management LLC’s holdings in CSX were worth $1,477,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Bornite Capital Management LP bought a new position in CSX in the 1st quarter worth about $14,980,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in CSX by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock worth $230,637,000 after purchasing an additional 347,514 shares in the last quarter. Blair William & Co. IL boosted its stake in CSX by 12.7% in the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock worth $4,581,000 after purchasing an additional 13,829 shares in the last quarter. Sei Investments Co. boosted its stake in CSX by 4.5% in the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock worth $7,361,000 after purchasing an additional 8,488 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in CSX by 16.8% in the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock worth $2,678,000 after purchasing an additional 10,276 shares in the last quarter. Institutional investors own 72.76% of the company’s stock.

CSX Stock Up 1.7 %

Shares of NASDAQ CSX traded up $0.63 during midday trading on Wednesday, hitting $37.61. 13,890,897 shares of the company’s stock were exchanged, compared to its average volume of 11,798,609. The company has a market cap of $73.68 billion, a PE ratio of 20.44, a P/E/G ratio of 2.16 and a beta of 1.18. CSX Co. has a twelve month low of $27.60 and a twelve month high of $40.12. The firm’s fifty day simple moving average is $36.60 and its 200-day simple moving average is $33.51. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91.

CSX (NASDAQ:CSXGet Free Report) last announced its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period last year, the business posted $0.49 EPS. The company’s revenue was down 1.3% on a year-over-year basis. Research analysts predict that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is 26.09%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CSX shares. JPMorgan Chase & Co. dropped their price target on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Susquehanna upgraded shares of CSX from a “neutral” rating to a “positive” rating in a research note on Monday, January 8th. BMO Capital Markets increased their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of CSX in a research note on Thursday, January 25th. Finally, Raymond James increased their price objective on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $36.24.

View Our Latest Research Report on CSX

About CSX

(Free Report)

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.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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