Erste Asset Management GmbH Cuts Stock Holdings in CSX Co. (NASDAQ:CSX)

Erste Asset Management GmbH lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 62.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,001 shares of the transportation company’s stock after selling 39,838 shares during the quarter. Erste Asset Management GmbH’s holdings in CSX were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Avior Wealth Management LLC grew its stake in shares of CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after purchasing an additional 293 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of CSX by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after purchasing an additional 306 shares in the last quarter. Associated Banc Corp grew its stake in shares of CSX by 0.6% during the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after purchasing an additional 310 shares in the last quarter. Joel Isaacson & Co. LLC grew its stake in shares of CSX by 2.4% during the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after purchasing an additional 310 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its stake in shares of CSX by 1.0% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after purchasing an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $30.01 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a market cap of $56.86 billion, a P/E ratio of 16.77, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a 52 week low of $28.98 and a 52 week high of $38.03. The company has a 50-day moving average price of $32.23 and a 200 day moving average price of $33.49.

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%. Research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BMO Capital Markets lowered their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Barclays decreased their price objective 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. Susquehanna decreased their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada decreased their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective for the company. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.00.

About CSX

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.