Terra Nova Asset Management LLC Sells 22,345 Shares of CSX Co. (NASDAQ:CSX)

Terra Nova Asset Management LLC decreased its position in shares of CSX Co. (NASDAQ:CSX) by 66.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,279 shares of the transportation company’s stock after selling 22,345 shares during the period. Terra Nova Asset Management LLC’s holdings in CSX were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in CSX in the 4th quarter valued at $27,000. Fortis Capital Advisors LLC acquired a new position in CSX during the 4th quarter worth about $27,000. Venturi Wealth Management LLC grew its holdings in CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after acquiring an additional 692 shares during the last quarter. Janiczek Wealth Management LLC raised its stake in shares of CSX by 897.2% in the third quarter. Janiczek Wealth Management LLC now owns 1,067 shares of the transportation company’s stock worth $33,000 after acquiring an additional 960 shares during the last quarter. Finally, Peoples Bank KS acquired a new position in shares of CSX during the third quarter worth approximately $37,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $37.07 on Friday. The firm has a 50 day simple moving average of $36.89 and a 200 day simple moving average of $33.79. The company has a market cap of $72.57 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.13 and a beta of 1.18. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91.

CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. Research analysts predict that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.29%. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is presently 26.09%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Raymond James upped their price objective on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Thursday, January 25th. Stifel Nicolaus cut their price target on CSX from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. JPMorgan Chase & Co. cut their price target on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price target on shares of CSX in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $36.88.

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.