Ieq Capital LLC Sells 66,373 Shares of CSX Co. (NASDAQ:CSX)

Ieq Capital LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 61.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,243 shares of the transportation company’s stock after selling 66,373 shares during the period. Ieq Capital LLC’s holdings in CSX were worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in CSX by 45.9% during the 4th quarter. Private Advisor Group LLC now owns 167,552 shares of the transportation company’s stock worth $5,407,000 after acquiring an additional 52,714 shares during the last quarter. Alberta Investment Management Corp raised its holdings in CSX by 36.0% in the fourth quarter. Alberta Investment Management Corp now owns 342,026 shares of the transportation company’s stock worth $11,037,000 after purchasing an additional 90,464 shares during the period. Waycross Partners LLC boosted its position in shares of CSX by 7.0% during the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after purchasing an additional 40,611 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of CSX in the 4th quarter valued at $75,000. Finally, Atria Wealth Solutions Inc. increased its position in shares of CSX by 28.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 75,679 shares of the transportation company’s stock valued at $2,442,000 after buying an additional 16,551 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 1.5 %

NASDAQ CSX opened at $31.81 on Tuesday. The company has a market cap of $61.34 billion, a PE ratio of 17.77, a PEG ratio of 1.92 and a beta of 1.23. CSX Co. has a 12 month low of $31.43 and a 12 month high of $38.70. The stock has a 50 day moving average of $32.61 and a 200-day moving average of $33.75. 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 announced its quarterly earnings data 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 net margin of 23.95% and a return on equity of 28.15%. On average, equities research analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSX. Barclays decreased their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Citigroup reduced their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Stephens restated an “overweight” rating and set a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Finally, Susquehanna dropped their price target on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Company 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.