Institute for Wealth Management LLC. Sells 485 Shares of CSX Co. (NASDAQ:CSX)

Institute for Wealth Management LLC. lowered its position in shares of CSX Co. (NASDAQ:CSX) by 0.7% during the fourth quarter, HoldingsChannel reports. The fund owned 72,472 shares of the transportation company’s stock after selling 485 shares during the quarter. Institute for Wealth Management LLC.’s holdings in CSX were worth $2,513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSX. Moneta Group Investment Advisors LLC grew its position in CSX by 101,926.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after acquiring an additional 23,300,381 shares during the last quarter. Norges Bank bought a new stake in CSX during the 4th quarter worth $621,349,000. First Trust Advisors LP grew its position in shares of CSX by 558.0% in the 1st quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock valued at $203,620,000 after buying an additional 5,767,302 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of CSX by 395.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock valued at $195,059,000 after buying an additional 4,158,204 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of CSX by 416.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock valued at $155,912,000 after buying an additional 4,089,150 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.3 %

CSX stock traded down $0.11 during trading on Friday, reaching $34.28. 6,573,121 shares of the stock were exchanged, compared to its average volume of 12,028,430. The firm’s 50 day moving average is $36.93 and its 200 day moving average is $34.32. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The firm has a market cap of $67.11 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 29.88% and a net margin of 24.75%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the business earned $0.48 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts forecast that CSX Co. will post 1.97 EPS for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.12 per share. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is 26.37%.

Analyst Ratings Changes

CSX has been the topic of a number of analyst reports. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. UBS Group reduced their price target on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank of Canada reduced their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday. Bank of America reduced their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus upped their price target on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.72.

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.