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

by · The Markets Daily

IHT Wealth Management LLC lessened its position in CSX Co. (NASDAQ:CSX – Free Report) by 20.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 49,408 shares of the transportation company’s stock after selling 12,892 shares during the period. IHT Wealth Management LLC’s holdings in CSX were worth $1,594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CSX. Tudor Financial Inc. purchased a new position in shares of CSX during the 3rd quarter worth approximately $473,000. World Investment Advisors LLC grew its holdings in CSX by 137.4% during the third quarter. World Investment Advisors LLC now owns 16,145 shares of the transportation company’s stock worth $557,000 after acquiring an additional 9,344 shares during the period. Wilmington Savings Fund Society FSB raised its position in CSX by 260.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 24,970 shares of the transportation company’s stock worth $862,000 after acquiring an additional 18,049 shares in the last quarter. Tidal Investments LLC lifted its holdings in CSX by 9.2% in the third quarter. Tidal Investments LLC now owns 194,760 shares of the transportation company’s stock valued at $6,725,000 after acquiring an additional 16,456 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of CSX by 9.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,350,289 shares of the transportation company’s stock worth $47,652,000 after purchasing an additional 113,530 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSX. UBS Group cut their price target on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Stifel Nicolaus dropped their target price on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. Citigroup dropped their price objective on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Benchmark reissued a “buy” rating and issued a $35.00 target price on shares of CSX in a report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.95.

Get Our Latest Stock Report on CSX

CSX Trading Up 1.2 %

Shares of CSX opened at $27.78 on Wednesday. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The stock has a fifty day moving average of $29.85 and a two-hundred day moving average of $32.40. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market capitalization of $52.36 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX – Get Free Report) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. As a group, analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio is presently 31.14%.

CSX Company Profile

(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.

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