Asset Dedication LLC Sells 12,320 Shares of CSX Co. (NASDAQ:CSX)

Asset Dedication LLC cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 65.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,403 shares of the transportation company’s stock after selling 12,320 shares during the period. Asset Dedication LLC’s holdings in CSX were worth $221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SageView Advisory Group LLC boosted its position in CSX by 13.2% during the 4th quarter. SageView Advisory Group LLC now owns 7,374 shares of the transportation company’s stock valued at $264,000 after acquiring an additional 858 shares in the last quarter. Wedmont Private Capital grew its stake in CSX by 7.9% in the first quarter. Wedmont Private Capital now owns 15,138 shares of the transportation company’s stock worth $544,000 after purchasing an additional 1,109 shares during the period. Park Avenue Securities LLC lifted its position in CSX by 6.8% during the first quarter. Park Avenue Securities LLC now owns 76,256 shares of the transportation company’s stock valued at $2,827,000 after buying an additional 4,823 shares during the period. RFG Advisory LLC lifted its position in CSX by 6.3% during the first quarter. RFG Advisory LLC now owns 19,887 shares of the transportation company’s stock valued at $737,000 after buying an additional 1,177 shares during the period. Finally, First Affirmative Financial Network bought a new stake in shares of CSX during the 1st quarter valued at $210,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSX. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Stephens lowered their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday. BMO Capital Markets cut their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company cut their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Stock Performance

Shares of CSX opened at $33.09 on Friday. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The business has a fifty day moving average of $34.02 and a 200 day moving average of $33.99. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market capitalization of $64.69 billion, a P/E ratio of 18.18, a PEG ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. As a group, sell-side analysts anticipate that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.45%. CSX’s payout ratio is currently 26.37%.

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.