Midwest Financial Group LLC Has $600,000 Position in CSX Corporation (NASDAQ:CSX)

Midwest Financial Group LLC lessened its holdings in CSX Corporation (NASDAQ:CSX) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,400 shares of the transportation company’s stock after selling 1,800 shares during the period. Midwest Financial Group LLC’s holdings in CSX were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CSX. Norges Bank acquired a new position in shares of CSX in the fourth quarter valued at approximately $780,194,000. Ameriprise Financial Inc. grew its holdings in CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock valued at $673,025,000 after buying an additional 9,863,587 shares in the last quarter. Bank of New York Mellon Corp increased its position in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of CSX by 471.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after buying an additional 5,568,624 shares in the last quarter. Finally, Fiduciary Management Inc. WI bought a new stake in shares of CSX in the fourth quarter valued at about $178,259,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $33.00 price target (down from $34.00) on shares of CSX in a research report on Thursday, April 17th. Barclays dropped their price target on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. UBS Group cut their price target on CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price objective on the stock. Finally, Susquehanna cut their target price on CSX from $37.00 to $35.00 and set a “positive” rating for the company in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.14.

CSX Price Performance

CSX stock opened at $32.06 on Friday. The stock has a market cap of $60.23 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 2.81 and a beta of 1.24. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The company has a 50 day simple moving average of $30.16 and a 200 day simple moving average of $31.10. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. Research analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.62%. CSX’s dividend payout ratio is presently 31.14%.

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.