Sheets Smith Wealth Management Lowers Holdings in CSX Co. (NASDAQ:CSX)

Sheets Smith Wealth Management trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,560 shares of the transportation company’s stock after selling 668 shares during the quarter. Sheets Smith Wealth Management’s holdings in CSX were worth $1,268,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CSX. Stratos Wealth Partners LTD. increased its holdings in CSX by 10.1% in the third quarter. Stratos Wealth Partners LTD. now owns 31,150 shares of the transportation company’s stock valued at $958,000 after buying an additional 2,847 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of CSX by 7.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 14,131 shares of the transportation company’s stock valued at $435,000 after acquiring an additional 920 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of CSX by 21.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,235 shares of the transportation company’s stock worth $284,000 after purchasing an additional 1,648 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of CSX in the 3rd quarter valued at $130,000. Finally, Mackenzie Financial Corp grew its position in CSX by 7.3% in the 3rd quarter. Mackenzie Financial Corp now owns 190,890 shares of the transportation company’s stock valued at $5,874,000 after acquiring an additional 13,055 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Jefferies Financial Group dropped their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. UBS Group lowered their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada decreased their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Finally, Stifel Nicolaus raised their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

CSX Trading Down 0.3 %

Shares of NASDAQ CSX traded down $0.11 during trading on Monday, hitting $33.74. 4,233,104 shares of the company traded hands, compared to its average volume of 12,217,703. The firm has a market capitalization of $65.96 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.03 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $36.23 and a 200-day moving average price of $34.59. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. On average, equities analysts predict that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.12 dividend. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s dividend payout ratio is presently 26.37%.

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.