CSX Co. (NASDAQ:CSX) Shares Sold by TIAA Trust National Association

TIAA Trust National Association decreased its position in shares of CSX Co. (NASDAQ:CSX) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 429,741 shares of the transportation company’s stock after selling 67,656 shares during the period. TIAA Trust National Association’s holdings in CSX were worth $13,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Modern Wealth Management LLC boosted its stake in shares of CSX by 67.1% during the fourth quarter. Modern Wealth Management LLC now owns 16,180 shares of the transportation company’s stock worth $535,000 after buying an additional 6,495 shares during the period. CoreFirst Bank & Trust purchased a new position in shares of CSX in the 4th quarter valued at approximately $52,000. Sound Shore Management Inc. CT acquired a new position in shares of CSX in the fourth quarter valued at approximately $67,825,000. Congress Wealth Management LLC DE purchased a new stake in shares of CSX during the fourth quarter worth approximately $1,087,000. Finally, LPL Financial LLC lifted its holdings in shares of CSX by 7.8% during the fourth quarter. LPL Financial LLC now owns 1,712,112 shares of the transportation company’s stock worth $55,250,000 after purchasing an additional 124,615 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CSX shares. Robert W. Baird cut their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Raymond James reissued an “outperform” rating and set a $37.00 price target (down from $38.00) on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective on the stock. Wells Fargo & Company reduced their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Finally, Citigroup cut their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.00.

CSX Trading Down 1.1 %

Shares of CSX opened at $29.53 on Wednesday. CSX Co. has a 1-year low of $28.98 and a 1-year high of $37.18. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $31.93 and a 200-day simple moving average of $33.28. The stock has a market cap of $55.95 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. Equities analysts forecast 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 issued a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.76%. CSX’s dividend payout ratio (DPR) is 29.05%.

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.