Forvis Mazars Wealth Advisors LLC Lowers Stock Holdings in CSX Co. (NASDAQ:CSX)

Forvis Mazars Wealth Advisors LLC cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,189 shares of the transportation company’s stock after selling 786 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in CSX were worth $2,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Inc. increased its position in CSX by 3.1% during the fourth quarter. Howard Capital Management Inc. now owns 57,852 shares of the transportation company’s stock worth $1,867,000 after purchasing an additional 1,720 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in shares of CSX by 7.5% during the 4th quarter. Wealthspire Advisors LLC now owns 28,948 shares of the transportation company’s stock worth $934,000 after buying an additional 2,021 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of CSX by 3.8% during the 4th quarter. Sigma Planning Corp now owns 49,504 shares of the transportation company’s stock worth $1,597,000 after buying an additional 1,817 shares during the last quarter. Redmond Asset Management LLC acquired a new position in CSX in the fourth quarter valued at $397,000. Finally, Deseret Mutual Benefit Administrators grew its position in CSX by 3.6% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 12,791 shares of the transportation company’s stock valued at $413,000 after acquiring an additional 440 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CSX shares. Susquehanna cut their price objective on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Barclays cut their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company decreased their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Citigroup cut their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Robert W. Baird decreased their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.16.

CSX Price Performance

CSX stock opened at $32.30 on Monday. The stock’s 50 day moving average is $32.63 and its two-hundred day moving average is $33.77. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a market capitalization of $62.29 billion, a PE ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

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%. 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 will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 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.