Avestar Capital LLC Reduces Holdings in CSX Co. (NASDAQ:CSX)

Avestar Capital LLC trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,200 shares of the transportation company’s stock after selling 940 shares during the period. Avestar Capital LLC’s holdings in CSX were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CSX. Valley Wealth Managers Inc. grew its stake in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the period. Morton Brown Family Wealth LLC purchased a new stake in CSX in the 3rd quarter worth approximately $31,000. Addison Advisors LLC grew its stake in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after acquiring an additional 812 shares during the period. Fortitude Family Office LLC grew its stake in CSX by 43.4% in the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock worth $38,000 after acquiring an additional 336 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in CSX in the 4th quarter worth approximately $41,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CSX. BMO Capital Markets lowered their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Raymond James reissued an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Benchmark reissued a “buy” rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note 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 research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Stock Performance

NASDAQ:CSX opened at $33.37 on Friday. 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 market capitalization of $64.35 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.91 and a beta of 1.23. The firm’s fifty day simple moving average is $32.74 and its 200 day simple moving average is $33.83. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts expect that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued 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 1.56%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

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.