Metis Global Partners LLC Trims Position in CSX Co. (NASDAQ:CSX)

Metis Global Partners LLC trimmed its stake in CSX Co. (NASDAQ:CSX) by 11.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,840 shares of the transportation company’s stock after selling 8,889 shares during the period. Metis Global Partners LLC’s holdings in CSX were worth $2,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

CSX has been the topic of a number of analyst reports. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Jefferies Financial Group decreased their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. BMO Capital Markets boosted 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. Royal Bank of Canada lowered their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Finally, 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, April 18th. Five investment 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.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

CSX Stock Up 0.6 %

CSX stock opened at $33.89 on Tuesday. 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 firm’s fifty day simple moving average is $36.14 and its 200-day simple moving average is $34.61. 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 $66.25 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19.

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

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. 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 1.42%. CSX’s payout ratio is presently 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.