Stonegate Investment Group LLC Sells 1,614 Shares of CSX Co. (NASDAQ:CSX)

Stonegate Investment Group LLC lowered its position in shares of CSX Co. (NASDAQ:CSXFree Report) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,340 shares of the transportation company’s stock after selling 1,614 shares during the quarter. Stonegate Investment Group LLC’s holdings in CSX were worth $532,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its position in shares of CSX by 101,926.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after purchasing an additional 23,300,381 shares in the last quarter. Norges Bank bought a new position in shares of CSX during the 4th quarter worth approximately $621,349,000. First Trust Advisors LP boosted its holdings in shares of CSX by 558.0% during the 1st quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock worth $203,620,000 after buying an additional 5,767,302 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of CSX by 395.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock worth $195,059,000 after buying an additional 4,158,204 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of CSX by 416.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock valued at $155,912,000 after acquiring an additional 4,089,150 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 0.7 %

Shares of CSX opened at $36.51 on Wednesday. The firm has a 50 day moving average price of $37.07 and a 200-day moving average price of $33.98. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market cap of $71.47 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.13 and a beta of 1.18.

CSX (NASDAQ:CSXGet Free Report) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. As a group, equities research analysts forecast that CSX Co. will post 1.96 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is currently 26.09%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CSX shares. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Thursday, January 25th. Susquehanna raised their price objective on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. TD Cowen increased their target price on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. BMO Capital Markets upped their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Stifel Nicolaus dropped their target price on CSX from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.88.

View Our Latest Stock Analysis on CSX

About CSX

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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