Wells Fargo & Company MN Lowers Stake in CSX Co. (NASDAQ:CSX)

Wells Fargo & Company MN decreased its position in shares of CSX Co. (NASDAQ:CSX) by 8.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,022,389 shares of the transportation company’s stock after selling 361,898 shares during the period. Wells Fargo & Company MN’s holdings in CSX were worth $129,803,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in CSX in the 4th quarter valued at about $31,000. Sierra Ocean LLC acquired a new stake in shares of CSX in the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. grew its holdings in CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 720 shares during the period. Meeder Asset Management Inc. increased its position in CSX by 216.2% during the fourth quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock worth $35,000 after purchasing an additional 746 shares during the last quarter. Finally, Atala Financial Inc purchased a new position in CSX during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. UBS Group lowered their price target on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Robert W. Baird decreased their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Barclays cut their price target on shares of CSX from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CSX Stock Down 2.8 %

CSX stock opened at $27.21 on Monday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a 50 day simple moving average of $31.32 and a 200-day simple moving average of $33.02. The company has a market capitalization of $51.28 billion, a P/E ratio of 15.20, a PEG ratio of 1.92 and a beta of 1.22. CSX Co. has a twelve month low of $26.95 and a twelve month high of $37.10.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.91%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is presently 29.05%.

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.