Cutter & CO Brokerage Inc. Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Cutter & CO Brokerage Inc. decreased its position in shares of CSX Co. (NASDAQ:CSX) by 30.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,396 shares of the transportation company’s stock after selling 3,709 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in CSX were worth $291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CSX. High Net Worth Advisory Group LLC increased its position in CSX by 1.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after buying an additional 304 shares during the period. Stratos Wealth Advisors LLC increased its holdings in shares of CSX by 1.1% during the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after purchasing an additional 304 shares during the period. Cornercap Investment Counsel Inc. raised its position in shares of CSX by 0.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after buying an additional 309 shares in the last quarter. Park Place Capital Corp increased its stake in shares of CSX by 12.1% during the third quarter. Park Place Capital Corp now owns 3,064 shares of the transportation company’s stock valued at $94,000 after acquiring an additional 330 shares during the period. Finally, Astoria Portfolio Advisors LLC. boosted its stake in CSX by 2.4% during the 3rd quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 349 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSX. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, April 18th. TD Cowen increased their price objective on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Raymond James lifted their target price on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. UBS Group reduced their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Bank of America dropped their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

CSX Stock Down 2.8 %

Shares of CSX stock traded down $0.97 on Wednesday, hitting $33.75. The company had a trading volume of 13,847,732 shares, compared to its average volume of 12,251,361. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The stock has a 50-day moving average of $36.79 and a 200-day moving average of $34.45. The firm has a market capitalization of $65.98 billion, a P/E ratio of 19.08, a P/E/G ratio of 2.07 and a beta of 1.18.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the business posted $0.48 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts predict that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given 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 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio is currently 26.37%.

About CSX

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.