Borer Denton & Associates Inc. Sells 1,600 Shares of CSX Co. (NASDAQ:CSX)

Borer Denton & Associates Inc. lessened its holdings in CSX Co. (NASDAQ:CSX) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,749 shares of the transportation company’s stock after selling 1,600 shares during the period. Borer Denton & Associates Inc.’s holdings in CSX were worth $347,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CSX. Bank of New York Mellon Corp raised its holdings in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of CSX by 471.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after acquiring an additional 5,568,624 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of CSX during the 4th quarter worth about $85,959,000. Perpetual Ltd bought a new position in CSX during the 4th quarter valued at about $83,301,000. Finally, Sound Shore Management Inc. CT bought a new stake in CSX in the fourth quarter worth about $67,825,000. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of CSX in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. Citigroup reduced their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Susquehanna lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays decreased their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Performance

Shares of CSX stock opened at $29.53 on Wednesday. The company has a market capitalization of $55.95 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.92 and a beta of 1.25. CSX Co. has a 12-month low of $28.98 and a 12-month high of $37.18. The business’s 50 day moving average is $31.93 and its two-hundred day moving average is $33.28. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 29.05%.

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.