Borer Denton & Associates Inc. Reduces Stake in CSX Co. (NASDAQ:CSX)

Borer Denton & Associates Inc. lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,749 shares of the transportation company’s stock after selling 1,600 shares during the period. Borer Denton & Associates Inc.’s holdings in CSX were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new position in shares of CSX during the 4th quarter worth $33,000. Center for Financial Planning Inc. increased its position in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares during the last quarter. Atala Financial Inc acquired a new position in CSX in the fourth quarter valued at about $36,000. Finally, Millstone Evans Group LLC purchased a new position in CSX during the fourth quarter worth about $37,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 1.1 %

Shares of NASDAQ:CSX opened at $29.53 on Wednesday. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.18. The firm’s 50-day simple moving average is $31.93 and its 200-day simple moving average is $33.28. The company has a market cap of $55.95 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.92 and a beta of 1.25. 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 (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company 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. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. BMO Capital Markets dropped their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Stephens reissued an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.