Pinnacle Financial Partners Inc Reduces Position in CSX Co. (NASDAQ:CSX)

Pinnacle Financial Partners Inc lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,169 shares of the transportation company’s stock after selling 507 shares during the period. Pinnacle Financial Partners Inc’s holdings in CSX were worth $1,070,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in CSX by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after purchasing an additional 80,423 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after acquiring an additional 46,473 shares during the last quarter. Marshall Financial Group LLC acquired a new position in shares of CSX in the 4th quarter worth approximately $1,084,000. Thrivent Financial for Lutherans lifted its holdings in shares of CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after acquiring an additional 24,430 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its holdings in CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after buying an additional 8,474 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $32.30 on Monday. The company has a fifty day moving average of $32.63 and a two-hundred day moving average of $33.77. 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. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last posted its earnings results 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 net margin of 23.95% and a return on equity of 28.15%. As a group, analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, February 28th. CSX’s payout ratio is presently 29.05%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CSX shares. Susquehanna reduced their target price on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Barclays reduced their target price 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. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price 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. Finally, Wells Fargo & Company reduced their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

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.