Main Street Group LTD Trims Holdings in CSX Co. (NASDAQ:CSX)

Main Street Group LTD reduced its position in shares of CSX Co. (NASDAQ:CSX) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,151 shares of the transportation company’s stock after selling 594 shares during the period. Main Street Group LTD’s holdings in CSX were worth $263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CSX. Wellington Management Group LLP boosted its position in shares of CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after acquiring an additional 15,029 shares during the last quarter. Marshall Financial Group LLC acquired a new position in CSX during the 4th quarter worth approximately $1,084,000. Carnegie Investment Counsel lifted its position in shares of CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after purchasing an additional 8,474 shares in the last quarter. Waycross Partners LLC boosted its position in CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after buying an additional 40,611 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of CSX by 1.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,061,143 shares of the transportation company’s stock valued at $34,243,000 after acquiring an additional 20,073 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

NASDAQ CSX opened at $30.54 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a market cap of $57.37 billion, a PE ratio of 17.06, a PEG ratio of 1.92 and a beta of 1.22. The stock’s 50-day moving average price is $28.76 and its two-hundred day moving average price is $31.81.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s dividend payout ratio (DPR) is presently 31.14%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Susquehanna cut their price target on CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a research note on Thursday, April 17th. Stifel Nicolaus dropped their price target on CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. Evercore ISI dropped their price objective on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Finally, Barclays reduced their price objective on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.90.

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.