Bison Wealth LLC Sells 865 Shares of CSX Co. (NASDAQ:CSX)

Bison Wealth LLC trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 11.5% in the fourth quarter, HoldingsChannel reports. The firm owned 6,637 shares of the transportation company’s stock after selling 865 shares during the quarter. Bison Wealth LLC’s holdings in CSX were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. Norges Bank acquired a new position in CSX in the 4th quarter valued at about $780,194,000. Bank of New York Mellon Corp grew its position in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after purchasing an additional 6,730,316 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of CSX by 471.9% during 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 during the period. Fiduciary Management Inc. WI acquired a new stake in CSX during the 4th quarter worth approximately $178,259,000. Finally, Invesco Ltd. boosted its stake in CSX by 13.5% in the 4th 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. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the subject of a number of research reports. Stephens reissued an “overweight” rating and set a $38.00 target price on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 target price on the stock. Susquehanna cut their price target on CSX from $37.00 to $35.00 and set a “positive” rating for the company in a research note on Thursday, April 17th. Evercore ISI lowered their price objective on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Finally, Citigroup cut their target price on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.86.

CSX Stock Up 0.1 %

Shares of CSX opened at $28.11 on Friday. The stock has a market capitalization of $52.81 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.92 and a beta of 1.23. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. 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 stock has a fifty day moving average of $29.18 and a 200-day moving average of $32.10.

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

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.85%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is presently 31.14%.

CSX 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.