Transcend Capital Advisors LLC Sells 3,671 Shares of CSX Co. (NASDAQ:CSX)

Transcend Capital Advisors LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,133 shares of the transportation company’s stock after selling 3,671 shares during the period. Transcend Capital Advisors LLC’s holdings in CSX were worth $1,079,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in CSX in the fourth quarter worth about $27,000. Life Planning Partners Inc bought a new position in CSX in the fourth quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in CSX in the fourth quarter worth about $34,000. Venturi Wealth Management LLC raised its stake in CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after buying an additional 692 shares in the last quarter. Finally, Avion Wealth raised its stake in CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after buying an additional 820 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Trading Down 0.1 %

Shares of CSX stock opened at $33.99 on Monday. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The firm’s 50 day moving average is $36.61 and its 200 day moving average is $34.51. The stock has a market capitalization of $66.45 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.04 and a beta of 1.18.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company posted $0.48 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. Research analysts expect that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a yield of 1.41%. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CSX. Royal Bank of Canada cut their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Bank of America cut their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, BMO Capital Markets upped their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

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.