Aviance Capital Partners LLC Sells 4,594 Shares of CSX Co. (NASDAQ:CSX)

Aviance Capital Partners LLC reduced its position in shares of CSX Co. (NASDAQ:CSX) by 13.9% in the 4th quarter, HoldingsChannel reports. The firm owned 28,525 shares of the transportation company’s stock after selling 4,594 shares during the period. Aviance Capital Partners LLC’s holdings in CSX were worth $920,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. lifted its holdings in 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 purchasing an additional 480 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in CSX in the 4th quarter valued at about $31,000. Sierra Ocean LLC acquired a new stake in CSX in the 4th quarter valued at about $33,000. Center for Financial Planning Inc. increased its position in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares in the last quarter. Finally, Addison Advisors LLC increased its position in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Up 1.1 %

Shares of NASDAQ CSX opened at $31.26 on Friday. The stock has a market cap of $60.28 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.92 and a beta of 1.23. The firm has a 50 day moving average price of $32.48 and a 200 day moving average price of $33.62. 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 Co. has a 52-week low of $30.55 and a 52-week high of $38.35.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.66%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is presently 29.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CSX shares. Barclays lowered their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Robert W. Baird lowered their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Royal Bank of Canada lowered their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, Benchmark reiterated a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Company Profile

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.