CSX Co. (NASDAQ:CSX) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in CSX Co. (NASDAQ:CSX) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,022,389 shares of the transportation company’s stock after selling 361,898 shares during the quarter. Wells Fargo & Company MN owned about 0.21% of CSX worth $129,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Rehmann Capital Advisory Group lifted its holdings in shares of CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after purchasing an additional 306 shares during the last quarter. Joel Isaacson & Co. LLC lifted its stake in CSX by 2.4% in the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after buying an additional 310 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of CSX by 1.0% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after acquiring an additional 313 shares during the period. West Branch Capital LLC grew its position in shares of CSX by 3.3% during the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock worth $333,000 after acquiring an additional 332 shares during the last quarter. Finally, Alhambra Investment Management LLC increased its holdings in shares of CSX by 4.3% in the 4th quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company’s stock valued at $268,000 after acquiring an additional 342 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 2.8 %

CSX opened at $27.21 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market cap of $51.28 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.92 and a beta of 1.22. CSX Co. has a one year low of $26.95 and a one year high of $37.10. The business’s fifty day moving average is $31.32 and its two-hundred day moving average is $33.02.

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

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio (DPR) is 29.05%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CSX shares. Robert W. Baird lowered their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Susquehanna decreased their price objective on CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Thursday, March 27th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, January 10th. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.20.

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.