CSX Co. (NASDAQ:CSX) is Bfsg LLC’s 8th Largest Position

Bfsg LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 331,925 shares of the transportation company’s stock after selling 9,505 shares during the quarter. CSX makes up approximately 1.7% of Bfsg LLC’s investment portfolio, making the stock its 8th largest position. Bfsg LLC’s holdings in CSX were worth $11,508,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in shares of CSX during the 4th quarter worth $27,000. Life Planning Partners Inc purchased a new position in shares of CSX during the 4th quarter worth $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX during the 4th quarter worth $34,000. Venturi Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 692 shares during the period. Finally, Avion Wealth grew its holdings in shares of CSX by 450.5% during the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after purchasing an additional 820 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating and set a $40.00 target price on shares of CSX in a report on Thursday, April 18th. Susquehanna increased 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. Raymond James increased their price target on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. BMO Capital Markets raised their target price on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, 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. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $38.00.

CSX Price Performance

Shares of CSX stock traded up $0.05 during trading on Thursday, reaching $33.72. The company’s stock had a trading volume of 3,519,553 shares, compared to its average volume of 12,280,002. 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 12-month low of $29.03 and a 12-month high of $40.12. The company has a market capitalization of $65.92 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 2.08 and a beta of 1.18. The business has a 50 day moving average price of $36.73 and a 200-day moving average price of $34.45.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. CSX’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, sell-side analysts anticipate that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

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

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.