Wright Investors Service Inc. Has $1.26 Million Position in CSX Co. (NASDAQ:CSX)

Wright Investors Service Inc. cut its position in shares of CSX Co. (NASDAQ:CSX) by 25.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,458 shares of the transportation company’s stock after selling 12,713 shares during the period. Wright Investors Service Inc.’s holdings in CSX were worth $1,264,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Tranquility Partners LLC increased its stake in shares of CSX by 40.5% during the 4th quarter. Tranquility Partners LLC now owns 11,961 shares of the transportation company’s stock worth $415,000 after purchasing an additional 3,449 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in CSX by 11.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 321,912 shares of the transportation company’s stock valued at $11,161,000 after buying an additional 32,221 shares during the last quarter. Sfmg LLC grew its stake in CSX by 1.0% in the 4th quarter. Sfmg LLC now owns 296,757 shares of the transportation company’s stock valued at $10,289,000 after buying an additional 2,874 shares during the last quarter. Kiley Juergens Wealth Management LLC grew its stake in CSX by 16.6% in the 4th quarter. Kiley Juergens Wealth Management LLC now owns 12,644 shares of the transportation company’s stock valued at $438,000 after buying an additional 1,800 shares during the last quarter. Finally, Tyche Wealth Partners LLC acquired a new position in CSX in the 4th quarter valued at about $285,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Up 2.0 %

NASDAQ CSX traded up $0.67 on Thursday, hitting $34.83. The company’s stock had a trading volume of 8,929,963 shares, compared to its average volume of 11,874,633. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company’s 50-day moving average is $36.98 and its 200 day moving average is $34.32. The firm has a market cap of $68.18 billion, a PE ratio of 18.91, a PEG ratio of 2.01 and a beta of 1.18.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the company posted $0.48 EPS. The company’s revenue was down .8% on a year-over-year basis. As a group, analysts predict that CSX Co. will post 1.97 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. CSX’s dividend payout ratio is 26.09%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CSX shares. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Raymond James boosted their price objective on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. Jefferies Financial Group cut their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday. TD Cowen boosted their price objective on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.22.

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.