First Horizon Advisors Inc. Decreases Stock Position in CSX Co. (NASDAQ:CSX)

First Horizon Advisors Inc. trimmed its position in CSX Co. (NASDAQ:CSX) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,284 shares of the transportation company’s stock after selling 1,999 shares during the period. First Horizon Advisors Inc.’s holdings in CSX were worth $526,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sigma Planning Corp lifted its holdings in CSX by 3.8% in the 4th quarter. Sigma Planning Corp now owns 49,504 shares of the transportation company’s stock valued at $1,597,000 after purchasing an additional 1,817 shares in the last quarter. Redmond Asset Management LLC purchased a new position in CSX in the 4th quarter valued at about $397,000. Deseret Mutual Benefit Administrators lifted its holdings in CSX by 3.6% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 12,791 shares of the transportation company’s stock valued at $413,000 after purchasing an additional 440 shares in the last quarter. Blackston Financial Advisory Group LLC lifted its holdings in CSX by 2.7% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 15,152 shares of the transportation company’s stock valued at $489,000 after purchasing an additional 405 shares in the last quarter. Finally, Centricity Wealth Management LLC purchased a new position in CSX in the 4th quarter valued at about $57,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research analyst reports. BMO Capital Markets dropped their price objective 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. Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Susquehanna dropped 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. Finally, Robert W. Baird dropped their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Performance

CSX stock opened at $31.81 on Tuesday. The stock has a market cap of $61.34 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. 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 stock has a 50 day moving average of $32.61 and a 200-day moving average of $33.75. CSX Co. has a 52 week low of $31.43 and a 52 week high of $38.70.

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

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. 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 1.63%. The ex-dividend date is Friday, February 28th. CSX’s dividend payout ratio is 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.