Signet Financial Management LLC Sells 1,507 Shares of CSX Co. (NASDAQ:CSX)

Signet Financial Management LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,638 shares of the transportation company’s stock after selling 1,507 shares during the period. Signet Financial Management LLC’s holdings in CSX were worth $265,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CSX. Bornite Capital Management LP bought a new stake in CSX during the first quarter valued at $14,980,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in CSX by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock valued at $230,637,000 after buying an additional 347,514 shares during the period. Blair William & Co. IL boosted its stake in CSX by 12.7% during the first quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock valued at $4,581,000 after buying an additional 13,829 shares during the period. Sei Investments Co. boosted its stake in CSX by 4.5% during the first quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock valued at $7,361,000 after buying an additional 8,488 shares during the period. Finally, Cetera Investment Advisers boosted its stake in CSX by 16.8% during the first quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock valued at $2,678,000 after buying an additional 10,276 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 2.0 %

NASDAQ CSX opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The stock has a market capitalization of $66.87 billion, a PE ratio of 18.57, a PEG ratio of 2.01 and a beta of 1.18. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The business’s 50-day moving average is $36.98 and its 200 day moving average is $34.32.

CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $3.68 billion for 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%. CSX’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. Sell-side analysts forecast that CSX Co. will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.41%. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s payout ratio is presently 26.09%.

Analysts Set New Price Targets

Several research firms recently issued reports on CSX. JPMorgan Chase & Co. dropped their price objective on CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Benchmark raised their price target on CSX from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. TD Cowen raised their price target on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Susquehanna raised their price target on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. Finally, StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $37.28.

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.