Simmons Bank Sells 6,078 Shares of CSX Co. (NASDAQ:CSX)

Simmons Bank reduced its stake in CSX Co. (NASDAQ:CSX) by 22.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,617 shares of the transportation company’s stock after selling 6,078 shares during the period. Simmons Bank’s holdings in CSX were worth $715,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Fortitude Family Office LLC purchased a new stake in CSX in the fourth quarter worth approximately $27,000. Life Planning Partners Inc purchased a new stake in shares of CSX during the fourth quarter worth about $27,000. Venturi Wealth Management LLC increased its holdings in CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 692 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in CSX during the 4th quarter valued at approximately $34,000. Finally, Avion Wealth lifted its holdings in CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after buying an additional 820 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX traded up $0.22 during trading hours on Wednesday, hitting $34.18. The stock had a trading volume of 5,470,882 shares, compared to its average volume of 12,162,742. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The stock has a fifty day moving average price of $36.06 and a 200 day moving average price of $34.64. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The firm has a market capitalization of $66.82 billion, a PE ratio of 18.66, a PEG ratio of 2.03 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. Analysts anticipate that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CSX shares. Jefferies Financial Group dropped their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. UBS Group reduced their price target on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. TD Cowen increased their price target on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Finally, Raymond James lifted their price target on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.