CSX Co. (NASDAQ:CSX) Stake Lessened by MidWestOne Financial Group Inc.

by · The Cerbat Gem

MidWestOne Financial Group Inc. lessened its stake in shares of CSX Co. (NASDAQ:CSX – Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,794 shares of the transportation company’s stock after selling 500 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in CSX were worth $736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX in the 4th quarter valued at about $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in CSX during the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new stake in CSX during the fourth quarter worth approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in CSX by 219.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company’s stock worth $34,000 after buying an additional 714 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Raymond James reiterated an “outperform” rating and set a $33.00 price objective (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. BMO Capital Markets cut their target price on CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Argus set a $32.00 target price on CSX in a report on Friday, April 25th. Robert W. Baird decreased their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Susquehanna cut their price objective on CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $33.90.

View Our Latest Stock Report on CSX

CSX Trading Down 2.4%

Shares of NASDAQ:CSX opened at $30.49 on Thursday. The firm has a fifty day moving average of $28.89 and a two-hundred day moving average of $31.73. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The firm has a market capitalization of $57.28 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX – Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. On average, equities analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio (DPR) is presently 31.14%.

About CSX

(Free Report)

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.

See Also

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