M. Kulyk & Associates LLC Decreases Stock Holdings in CSX Co. (NASDAQ:CSX)

M. Kulyk & Associates LLC trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 211,896 shares of the transportation company’s stock after selling 7,172 shares during the period. CSX makes up 1.5% of M. Kulyk & Associates LLC’s investment portfolio, making the stock its 22nd largest holding. M. Kulyk & Associates LLC’s holdings in CSX were worth $6,838,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in CSX by 11.4% during the third quarter. Farther Finance Advisors LLC now owns 8,254 shares of the transportation company’s stock valued at $285,000 after buying an additional 842 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in CSX by 1.0% during the third quarter. Concurrent Investment Advisors LLC now owns 40,767 shares of the transportation company’s stock valued at $1,408,000 after buying an additional 408 shares during the last quarter. Principal Financial Group Inc. increased its holdings in CSX by 3.4% during the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after buying an additional 77,488 shares during the last quarter. Portside Wealth Group LLC increased its holdings in CSX by 2.4% during the third quarter. Portside Wealth Group LLC now owns 26,321 shares of the transportation company’s stock valued at $909,000 after buying an additional 615 shares during the last quarter. Finally, Equitable Trust Co. increased its holdings in CSX by 7.0% during the third quarter. Equitable Trust Co. now owns 166,677 shares of the transportation company’s stock valued at $5,755,000 after buying an additional 10,970 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ:CSX opened at $31.26 on Friday. 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 firm has a fifty day moving average price of $32.48 and a 200 day moving average price of $33.62. CSX Co. has a fifty-two week low of $30.55 and a fifty-two week high of $38.35. The firm has a market cap of $59.23 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 1.92 and a beta of 1.25.

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 return on equity of 28.15% and a net margin of 23.95%. As a group, sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.66%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSX. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $37.00 target price (down from $38.00) on shares of CSX in a report on Friday, January 24th. Citigroup reduced their target price 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. Robert W. Baird reduced 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.