CSX Co. (NASDAQ:CSX) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lessened its stake in shares of CSX Co. (NASDAQ:CSX – Get Rating) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,192 shares of the transportation company’s stock after selling 1,057 shares during the period. Kingsview Wealth Management LLC’s holdings in CSX were worth $1,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in CSX by 80.8% in the 2nd quarter. Renaissance Technologies LLC now owns 11,529,500 shares of the transportation company’s stock valued at $335,047,000 after acquiring an additional 5,151,100 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in CSX by 395.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock valued at $195,059,000 after acquiring an additional 4,158,204 shares during the last quarter. First Trust Advisors LP raised its holdings in CSX by 104.8% in the 1st quarter. First Trust Advisors LP now owns 6,626,888 shares of the transportation company’s stock valued at $248,177,000 after acquiring an additional 3,390,853 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in CSX by 183.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,808,127 shares of the transportation company’s stock valued at $128,089,000 after acquiring an additional 3,112,926 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in CSX in the 3rd quarter valued at about $45,637,000. Institutional investors and hedge funds own 72.91% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $29.26 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.42 and a current ratio of 1.56. The stock has a market capitalization of $60.35 billion, a P/E ratio of 15.08, a PEG ratio of 2.29 and a beta of 1.22. The company has a 50 day moving average price of $31.23 and a 200 day moving average price of $30.53. CSX Co. has a fifty-two week low of $25.80 and a fifty-two week high of $38.17.

CSX (NASDAQ:CSX – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. CSX had a net margin of 28.05% and a return on equity of 31.48%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company posted $0.42 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that CSX Co. will post 1.86 EPS for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.50%. The ex-dividend date is Monday, February 27th. This is a boost from CSX’s previous quarterly dividend of $0.10. CSX’s dividend payout ratio (DPR) is currently 22.68%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CSX shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CSX from $36.00 to $39.00 in a report on Monday, November 28th. Morgan Stanley raised their price target on shares of CSX from $23.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, January 11th. Susquehanna raised their price target on shares of CSX from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Barclays raised their price target on shares of CSX from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, November 29th. Finally, Raymond James raised their price target on shares of CSX from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, January 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, CSX currently has a consensus rating of “Hold” and an average target price of $34.58.

CSX Profile

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.