OLD Point Trust & Financial Services N A Trims Stock Position in CSX Co. (NASDAQ:CSX)

OLD Point Trust & Financial Services N A decreased its position in shares of CSX Co. (NASDAQ:CSX) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,900 shares of the transportation company’s stock after selling 500 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in CSX were worth $449,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of CSX in the 4th quarter valued at about $31,000. Sierra Ocean LLC purchased a new stake in CSX in the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. boosted its holdings in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares during the period. Atala Financial Inc purchased a new position in shares of CSX during the fourth quarter worth approximately $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of CSX in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CSX shares. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Raymond James reiterated an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, January 10th. Finally, Robert W. Baird cut their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Stock Down 0.6 %

Shares of NASDAQ CSX opened at $30.07 on Thursday. The firm’s 50-day moving average is $32.12 and its two-hundred day moving average is $33.41. The company has a market capitalization of $56.97 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. CSX Co. has a 12-month low of $28.98 and a 12-month high of $38.03. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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%. Equities analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

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

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.