Corient Private Wealth LLC Sells 1,730,354 Shares of CSX Co. (NASDAQ:CSX)

Corient Private Wealth LLC lowered its holdings in shares of CSX Co. (NASDAQ:CSX) by 67.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 831,912 shares of the transportation company’s stock after selling 1,730,354 shares during the quarter. Corient Private Wealth LLC’s holdings in CSX were worth $25,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after acquiring an additional 6,730,316 shares during the period. Raymond James Financial Inc. bought a new position in CSX in the 4th quarter worth $85,959,000. Perpetual Ltd bought a new position in CSX in the 4th quarter worth $83,301,000. River Road Asset Management LLC bought a new position in CSX in the 4th quarter worth $46,861,000. Finally, FMR LLC raised its holdings in CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of CSX in a research report on Monday, January 27th. 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 research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 price target on the stock. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada decreased their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

CSX Price Performance

Shares of CSX stock opened at $30.26 on Wednesday. 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 stock has a market capitalization of $57.33 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 1.92 and a beta of 1.25. CSX Co. has a 1-year low of $28.98 and a 1-year high of $38.03. The firm’s 50-day moving average price is $32.16 and its two-hundred day moving average price is $33.44.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio is presently 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.