Piscataqua Savings Bank Sells 1,000 Shares of CSX Co. (NASDAQ:CSX)

Piscataqua Savings Bank reduced its position in shares of CSX Co. (NASDAQ:CSX) by 5.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,384 shares of the transportation company’s stock after selling 1,000 shares during the quarter. Piscataqua Savings Bank’s holdings in CSX were worth $568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Soroban Capital Partners LP raised its stake in shares of CSX by 0.8% in the fourth quarter. Soroban Capital Partners LP now owns 58,100,864 shares of the transportation company’s stock worth $1,799,965,000 after purchasing an additional 470,000 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CSX by 1.8% in the first quarter. Geode Capital Management LLC now owns 39,236,265 shares of the transportation company’s stock worth $1,172,727,000 after purchasing an additional 690,267 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares during the last quarter. Morgan Stanley raised its stake in shares of CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its stake in shares of CSX by 101,926.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after purchasing an additional 23,300,381 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

NASDAQ:CSX opened at $36.78 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $72.00 billion, a P/E ratio of 19.99, a P/E/G ratio of 2.15 and a beta of 1.18. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The business’s 50-day moving average is $36.99 and its 200 day moving average is $33.90.

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

CSX Increases Dividend

The business 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. The ex-dividend date was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. CSX’s dividend payout ratio is 26.09%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CSX shares. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Thursday, January 25th. Raymond James lifted 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. Susquehanna lifted their price objective on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 price objective on shares of CSX in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target 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.