D.A. Davidson & CO. Sells 3,241 Shares of CSX Co. (NASDAQ:CSX)

D.A. Davidson & CO. reduced its position in CSX Co. (NASDAQ:CSX) by 0.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 351,654 shares of the transportation company’s stock after selling 3,241 shares during the quarter. D.A. Davidson & CO.’s holdings in CSX were worth $11,348,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Avior Wealth Management LLC increased its holdings in CSX by 2.5% in the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after buying an additional 293 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of CSX by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 306 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of CSX by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after purchasing an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after purchasing an additional 309 shares during the last quarter. Finally, Associated Banc Corp grew its holdings in shares of CSX by 0.6% during the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after purchasing an additional 310 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CSX shares. Citigroup decreased their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Raymond James reaffirmed an “outperform” rating and set a $37.00 price target (down from $38.00) on shares of CSX in a report on Friday, January 24th. Finally, Wells Fargo & Company cut their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Up 0.8 %

Shares of NASDAQ CSX opened at $33.64 on Wednesday. The company has a market capitalization of $64.87 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. CSX Co. has a 52-week low of $31.43 and a 52-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. The company’s 50 day moving average price is $32.71 and its 200-day moving average price is $33.79.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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 return on equity of 28.15% and a net margin of 23.95%. Equities analysts forecast that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.55%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 26.82%.

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.