Accurate Wealth Management LLC Trims Holdings in CSX Co. (NASDAQ:CSX)

Accurate Wealth Management LLC decreased its stake in shares of CSX Co. (NASDAQ:CSX – Get Rating) by 34.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,931 shares of the transportation company’s stock after selling 31,890 shares during the quarter. CSX comprises 0.7% of Accurate Wealth Management LLC’s holdings, making the stock its 21st largest position. Accurate Wealth Management LLC’s holdings in CSX were worth $2,007,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC raised its position in CSX by 2.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 28,675 shares of the transportation company’s stock valued at $888,000 after purchasing an additional 798 shares during the period. Coldstream Capital Management Inc. purchased a new stake in CSX in the fourth quarter valued at $1,208,000. Cambridge Trust Co. raised its position in CSX by 10.0% in the fourth quarter. Cambridge Trust Co. now owns 21,937 shares of the transportation company’s stock valued at $679,000 after purchasing an additional 2,000 shares during the period. CWA Asset Management Group LLC raised its position in CSX by 6.0% in the fourth quarter. CWA Asset Management Group LLC now owns 11,277 shares of the transportation company’s stock valued at $349,000 after purchasing an additional 643 shares during the period. Finally, Nexus Investment Management ULC purchased a new stake in CSX in the fourth quarter valued at $491,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of research analyst reports. Credit Suisse Group reduced their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, January 26th. Cowen lifted their target price on CSX from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Thursday, January 26th. Benchmark dropped their price objective on CSX from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, January 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on CSX from $36.00 to $39.00 in a research note on Monday, November 28th. Finally, Susquehanna lifted their price objective on CSX from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, CSX currently has a consensus rating of “Hold” and an average price target of $34.39.

CSX Stock Down 1.4 %

Shares of NASDAQ:CSX traded down $0.42 on Friday, hitting $28.91. 21,490,861 shares of the company’s stock were exchanged, compared to its average volume of 13,920,036. The firm’s 50-day moving average is $31.09 and its 200 day moving average is $30.49. The company has a market capitalization of $59.63 billion, a PE ratio of 14.90, a P/E/G ratio of 2.27 and a beta of 1.22. CSX Co. has a 1-year low of $25.80 and a 1-year high of $38.17. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.42 and a current ratio of 1.56.

CSX (NASDAQ:CSX – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. CSX had a return on equity of 31.48% and a net margin of 28.05%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. Sell-side analysts predict that CSX Co. will post 1.86 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were given a dividend of $0.11 per share. This is a boost from CSX’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, February 27th. CSX’s dividend payout ratio is currently 22.68%.

CSX Company Profile

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.