AlphaQuest LLC Sells 36,079 Shares of CSX Co. (NASDAQ:CSX)

AlphaQuest LLC cut its stake in shares of CSX Co. (NASDAQ:CSX) by 87.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,385 shares of the transportation company’s stock after selling 36,079 shares during the period. AlphaQuest LLC’s holdings in CSX were worth $174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of CSX during the fourth quarter valued at about $31,000. Sierra Ocean LLC bought a new stake in shares of CSX during the fourth quarter valued at about $33,000. Center for Financial Planning Inc. grew its holdings in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares in the last quarter. Synergy Asset Management LLC purchased a new position in shares of CSX during the fourth quarter worth about $41,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of CSX during the fourth quarter worth about $39,000. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of CSX stock opened at $30.01 on Monday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a market cap of $56.86 billion, a PE ratio of 16.77, a P/E/G ratio of 1.92 and a beta of 1.25. The business has a 50 day moving average of $32.23 and a 200 day moving average of $33.49. CSX Co. has a 52 week low of $28.98 and a 52 week high of $38.03.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CSX shares. Royal Bank of Canada cut 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 cut their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Barclays cut their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, January 10th. Finally, Susquehanna cut their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average 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.