Vontobel Holding Ltd. Sells 37,143 Shares of CSX Co. (NASDAQ:CSX)

Vontobel Holding Ltd. lowered its stake in CSX Co. (NASDAQ:CSX) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 434,516 shares of the transportation company’s stock after selling 37,143 shares during the quarter. Vontobel Holding Ltd.’s holdings in CSX were worth $14,022,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Valley Wealth Managers Inc. increased its stake in shares of CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new stake in CSX in the 3rd quarter valued at $31,000. Addison Advisors LLC grew its position in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the period. Fortitude Family Office LLC grew its position in CSX by 43.4% in the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 336 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new stake in CSX in the 4th quarter valued at $39,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CSX shares. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Finally, Raymond James reissued an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Price Performance

Shares of NASDAQ:CSX opened at $33.37 on Friday. The company’s 50-day moving average is $32.74 and its 200 day moving average is $33.83. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market capitalization of $64.35 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly 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 return on equity of 28.15% and a net margin of 23.95%. On average, equities research analysts forecast that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.13 dividend. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, February 28th. CSX’s payout ratio is currently 29.05%.

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.