HBK Sorce Advisory LLC Sells 829 Shares of CSX Co. (NASDAQ:CSX)

HBK Sorce Advisory LLC lowered its holdings in CSX Co. (NASDAQ:CSX) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,245 shares of the transportation company’s stock after selling 829 shares during the period. HBK Sorce Advisory LLC’s holdings in CSX were worth $459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CSX. Bornite Capital Management LP purchased a new position in CSX in the first quarter worth $14,980,000. Mirae Asset Global Investments Co. Ltd. boosted its position in CSX by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock worth $230,637,000 after purchasing an additional 347,514 shares during the last quarter. Blair William & Co. IL lifted its position in shares of CSX by 12.7% during the 1st 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 last quarter. Sei Investments Co. lifted its position in shares of CSX by 4.5% during the 1st 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 last quarter. Finally, Cetera Investment Advisers lifted its position in shares of CSX by 16.8% during the 1st 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 last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX opened at $35.41 on Thursday. The firm has a market capitalization of $69.32 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.09 and a beta of 1.18. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. The stock’s 50-day simple moving average is $37.15 and its two-hundred day simple moving average is $34.17. 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 Tuesday, January 23rd. The transportation company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 EPS. As a group, equities analysts anticipate that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.36%. CSX’s dividend payout ratio is 26.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSX. StockNews.com cut CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Jefferies Financial Group began coverage on CSX in a research report on Monday. They set a “hold” rating and a $40.00 price target on the stock. TD Cowen upped 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. JPMorgan Chase & Co. dropped their price objective on CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Finally, BMO Capital Markets increased their price objective on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.17.

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.