Cottage Street Advisors LLC Has $3.65 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Cottage Street Advisors LLC lessened its stake in CSX Co. (NASDAQ:CSX) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,012 shares of the transportation company’s stock after selling 2,347 shares during the quarter. CSX comprises about 1.9% of Cottage Street Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Cottage Street Advisors LLC’s holdings in CSX were worth $3,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in CSX during the fourth quarter worth about $31,000. Sierra Ocean LLC bought a new stake in CSX during the fourth quarter worth $33,000. Center for Financial Planning Inc. lifted its position in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the last quarter. Atala Financial Inc acquired a new stake in CSX during the 4th quarter valued at $36,000. Finally, Millstone Evans Group LLC bought a new position in CSX during the fourth quarter worth $37,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $29.53 on Wednesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.18. The company has a 50 day simple moving average of $31.93 and a two-hundred day simple moving average of $33.28. The company has a market capitalization of $55.95 billion, a PE ratio of 16.50, a P/E/G ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced its quarterly 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%. Research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.76%. CSX’s dividend payout ratio is presently 29.05%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CSX. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Royal Bank of Canada reduced their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Citigroup lowered their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Loop Capital downgraded 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 note on Monday, February 3rd. Finally, Robert W. Baird lowered their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.