Providence Capital Advisors LLC Sells 173,000 Shares of CSX Co. (NASDAQ:CSX)

Providence Capital Advisors LLC lowered its stake in CSX Co. (NASDAQ:CSX) by 95.7% in the 4th quarter, Holdings Channel reports. The firm owned 7,733 shares of the transportation company’s stock after selling 173,000 shares during the quarter. Providence Capital Advisors LLC’s holdings in CSX were worth $250,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in CSX during the fourth quarter valued at approximately $780,194,000. Bank of New York Mellon Corp increased its holdings in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after purchasing an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of CSX by 471.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after purchasing an additional 5,568,624 shares during the period. Raymond James Financial Inc. bought a new stake in CSX during the fourth quarter valued at $85,959,000. Finally, Perpetual Ltd purchased a new position in CSX during the fourth quarter worth about $83,301,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of several recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $38.00 price target on shares of CSX in a report on Friday, January 24th. Citigroup lowered their target price 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. Wells Fargo & Company cut their price target on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday. Robert W. Baird lowered their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

CSX Trading Up 0.1 %

NASDAQ:CSX opened at $29.92 on Friday. The firm has a market capitalization of $56.69 billion, a P/E ratio of 16.72, a P/E/G 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 $37.18. 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 fifty day moving average of $31.82 and a 200 day moving average of $33.23.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. CSX’s payout ratio is 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.