Syverson Strege & Co Sells 1,448 Shares of CSX Co. (NASDAQ:CSX)

Syverson Strege & Co trimmed its holdings in CSX Co. (NASDAQ:CSX) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,841 shares of the transportation company’s stock after selling 1,448 shares during the period. Syverson Strege & Co’s holdings in CSX were worth $447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Meridian Wealth Management LLC bought a new position in CSX in the 3rd quarter valued at about $387,000. Great Valley Advisor Group Inc. increased its stake in shares of CSX by 14.4% during the third quarter. Great Valley Advisor Group Inc. now owns 25,899 shares of the transportation company’s stock worth $894,000 after purchasing an additional 3,252 shares during the period. Cerity Partners LLC lifted its holdings in CSX by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 289,861 shares of the transportation company’s stock worth $10,009,000 after purchasing an additional 50,913 shares during the last quarter. StoneX Group Inc. boosted its stake in CSX by 4.0% in the 3rd quarter. StoneX Group Inc. now owns 39,651 shares of the transportation company’s stock valued at $1,369,000 after purchasing an additional 1,519 shares during the period. Finally, Larson Financial Group LLC grew its holdings in CSX by 20.2% in the 3rd quarter. Larson Financial Group LLC now owns 5,957 shares of the transportation company’s stock valued at $206,000 after buying an additional 1,000 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research reports. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, January 10th. Citigroup cut their price objective 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. Barclays lowered their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. BMO Capital Markets cut their price target on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Stephens restated an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Up 0.9 %

CSX stock opened at $29.85 on Tuesday. The stock has a market capitalization of $56.55 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average price of $31.99 and a 200-day moving average price of $33.31. CSX Co. has a 12 month low of $28.98 and a 12 month high of $37.40.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. As a group, equities research analysts anticipate 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. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.74%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

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.