CSX Co. (NASDAQ:CSX) Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 97.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,488 shares of the transportation company’s stock after selling 445,518 shares during the period. Pathway Financial Advisers LLC’s holdings in CSX were worth $435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after acquiring an additional 80,423 shares in the last quarter. Diversified Trust Co raised its position in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after purchasing an additional 46,473 shares in the last quarter. Marshall Financial Group LLC purchased a new position in shares of CSX in the 4th quarter valued at about $1,084,000. Thrivent Financial for Lutherans grew its position in shares of CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after buying an additional 24,430 shares in the last quarter. Finally, Carnegie Investment Counsel grew its position in shares of CSX by 1.4% during the fourth 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CSX shares. 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 note on Friday, January 24th. Raymond James reaffirmed an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Evercore ISI lowered their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Trading Down 0.6 %

Shares of CSX opened at $32.92 on Thursday. 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 Co. has a 1-year low of $31.43 and a 1-year high of $40.12. The stock has a market cap of $63.48 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. The firm has a 50 day simple moving average of $32.77 and a 200-day simple moving average of $33.83.

CSX (NASDAQ:CSX) last released its quarterly 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 return on equity of 28.15% and a net margin of 23.95%. Equities analysts forecast that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.58%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 26.82%.

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.