Outfitter Financial LLC Sells 5,975 Shares of CSX Co. (NASDAQ:CSX)

Outfitter Financial LLC cut its holdings in CSX Co. (NASDAQ:CSX) by 12.4% during the 4th quarter, Holdings Channel reports. The fund owned 42,275 shares of the transportation company’s stock after selling 5,975 shares during the period. Outfitter Financial LLC’s holdings in CSX were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Valley Wealth Managers Inc. grew its stake in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the period. Morton Brown Family Wealth LLC purchased a new position in CSX during the third quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new position in CSX during the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. boosted its position in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares during the period. Finally, Addison Advisors LLC increased its stake in shares of CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $32.46 on Friday. The company has a market cap of $62.60 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.92 and a beta of 1.23. The business’s 50 day moving average price is $32.65 and its 200-day moving average price is $33.77. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last announced 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 net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 26.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CSX. Royal Bank of Canada lowered their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Robert W. Baird lowered their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. BMO Capital Markets lowered their price target on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

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.