United Capital Financial Advisors LLC Sells 2,111 Shares of CSX Co. (NASDAQ:CSX)

United Capital Financial Advisors LLC trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,577 shares of the transportation company’s stock after selling 2,111 shares during the period. United Capital Financial Advisors LLC’s holdings in CSX were worth $4,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in CSX in the 4th quarter worth about $780,194,000. Bank of New York Mellon Corp boosted its position in CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after purchasing an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of CSX by 471.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after purchasing an additional 5,568,624 shares in the last quarter. Invesco Ltd. raised its position in shares of CSX by 13.5% in the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock valued at $810,076,000 after purchasing an additional 2,977,212 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of CSX during the 4th quarter valued at approximately $85,959,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of analyst reports. Benchmark reissued a “buy” rating and set a $38.00 target price on shares of CSX in a report on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Robert W. Baird cut their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company decreased their price target on CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Finally, Barclays cut their price objective on shares of CSX from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.55.

CSX Trading Down 2.0 %

CSX stock opened at $27.35 on Thursday. The company has a market capitalization of $51.55 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. 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 one year low of $26.22 and a one year high of $37.10. The company’s 50 day moving average price is $30.29 and its two-hundred day moving average price is $32.60.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. As a group, analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

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.