Cresset Asset Management LLC Reduces Position in CSX Co. (NASDAQ:CSX)

Cresset Asset Management LLC trimmed its position in CSX Co. (NASDAQ:CSX) by 67.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,404 shares of the transportation company’s stock after selling 117,142 shares during the quarter. Cresset Asset Management LLC’s holdings in CSX were worth $1,852,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX during the fourth quarter valued at about $27,000. Accredited Wealth Management LLC purchased a new position in CSX during the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new position in CSX during the 4th quarter valued at approximately $31,000. Sierra Ocean LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of CSX by 219.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company’s stock worth $34,000 after buying an additional 714 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $28.74 on Friday. The firm has a market cap of $53.99 billion, a P/E ratio of 16.06, a PEG ratio of 1.92 and a beta of 1.22. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. 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 50 day moving average of $28.78 and a 200 day moving average of $31.85.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. As a group, research analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s payout ratio is presently 31.14%.

Analysts Set New Price Targets

CSX has been the subject of a number of research analyst reports. Evercore ISI dropped their price target on CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Bank of America dropped their target price on shares of CSX from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Raymond James reiterated an “outperform” rating and set a $33.00 price target (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. BMO Capital Markets cut their price objective on CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.86.

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.