Baxter Bros Inc. Sells 1,893 Shares of CSX Co. (NASDAQ:CSX)

Baxter Bros Inc. lessened its stake in CSX Co. (NASDAQ:CSX) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,262 shares of the transportation company’s stock after selling 1,893 shares during the quarter. Baxter Bros Inc.’s holdings in CSX were worth $3,171,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Meridian Wealth Management LLC bought a new stake in CSX in the 3rd quarter worth approximately $387,000. Great Valley Advisor Group Inc. grew its holdings in shares of CSX by 14.4% in the third quarter. Great Valley Advisor Group Inc. now owns 25,899 shares of the transportation company’s stock valued at $894,000 after purchasing an additional 3,252 shares in the last quarter. Cerity Partners LLC increased its position in CSX by 21.3% in the third quarter. Cerity Partners LLC now owns 289,861 shares of the transportation company’s stock worth $10,009,000 after purchasing an additional 50,913 shares during the last quarter. StoneX Group Inc. raised its stake in CSX by 4.0% during the third quarter. StoneX Group Inc. now owns 39,651 shares of the transportation company’s stock valued at $1,369,000 after purchasing an additional 1,519 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in CSX by 20.2% during the third quarter. Larson Financial Group LLC now owns 5,957 shares of the transportation company’s stock valued at $206,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $29.85 on Tuesday. The business has a fifty day simple moving average of $31.99 and a 200-day simple moving average of $33.31. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 52 week low of $28.98 and a 52 week high of $37.40. The company has a market cap of $56.55 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities research analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. CSX’s dividend payout ratio (DPR) is 29.05%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $38.00 target price on shares of CSX in a report on Monday, January 27th. Raymond James restated an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Susquehanna cut their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Robert W. Baird lowered their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.