Westover Capital Advisors LLC Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Westover Capital Advisors LLC lowered its position in CSX Co. (NASDAQ:CSX) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,510 shares of the transportation company’s stock after selling 1,604 shares during the period. Westover Capital Advisors LLC’s holdings in CSX were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. Fortitude Family Office LLC acquired a new stake in shares of CSX in the fourth quarter valued at about $27,000. Life Planning Partners Inc purchased a new position in CSX during the fourth quarter worth about $27,000. Venturi Wealth Management LLC raised its stake in shares of CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 692 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of CSX in the fourth quarter valued at approximately $34,000. Finally, Avion Wealth boosted its position in CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after buying an additional 820 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group decreased their price target on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Stifel Nicolaus boosted their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Raymond James lifted their price objective on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Royal Bank of Canada cut their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Finally, Jefferies Financial Group dropped their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus target price of $38.00.

CSX Stock Up 0.8 %

Shares of CSX stock traded up $0.28 on Friday, reaching $33.85. 6,617,956 shares of the company’s stock traded hands, compared to its average volume of 12,311,956. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a market capitalization of $66.17 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The business’s 50 day moving average price is $36.32 and its two-hundred day moving average price is $34.52.

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

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

CSX 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.