Cutter & CO Brokerage Inc. Reduces Position in CSX Co. (NASDAQ:CSX)

Cutter & CO Brokerage Inc. trimmed its position in CSX Co. (NASDAQ:CSX) by 30.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,396 shares of the transportation company’s stock after selling 3,709 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in CSX were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CSX. High Net Worth Advisory Group LLC increased its position in CSX by 1.7% during the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after purchasing an additional 304 shares during the period. Stratos Wealth Advisors LLC lifted its holdings in CSX by 1.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after buying an additional 304 shares during the period. Cornercap Investment Counsel Inc. boosted its position in CSX by 0.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after acquiring an additional 309 shares in the last quarter. Park Place Capital Corp grew its holdings in shares of CSX by 12.1% during the 3rd quarter. Park Place Capital Corp now owns 3,064 shares of the transportation company’s stock worth $94,000 after acquiring an additional 330 shares during the period. Finally, Astoria Portfolio Advisors LLC. boosted its position in shares of CSX by 2.4% during the third quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 349 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Down 2.8 %

NASDAQ CSX traded down $0.97 during trading on Wednesday, hitting $33.75. The stock had a trading volume of 13,847,732 shares, compared to its average volume of 12,251,361. The firm has a 50 day moving average price of $36.79 and a 200 day moving average price of $34.45. The company has a market capitalization of $65.98 billion, a PE ratio of 19.08, a PEG ratio of 2.07 and a beta of 1.18. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS. As a group, equities research analysts forecast that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is presently 26.37%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TD Cowen raised their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Jefferies Financial Group reduced their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Raymond James raised their price objective on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. Royal Bank of Canada dropped their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Finally, Susquehanna raised their target price on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

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.