Gibraltar Capital Management Inc. Sells 646 Shares of CSX Co. (NASDAQ:CSX)

Gibraltar Capital Management Inc. cut its stake in CSX Co. (NASDAQ:CSX) by 1.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,034 shares of the transportation company’s stock after selling 646 shares during the quarter. Gibraltar Capital Management Inc.’s holdings in CSX were worth $1,131,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Valley Wealth Managers Inc. increased its holdings in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of CSX in the fourth quarter valued at about $33,000. Addison Advisors LLC raised its position in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position in CSX by 43.4% in the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

CSX stock opened at $32.09 on Wednesday. The stock’s fifty day moving average price is $32.59 and its two-hundred day moving average price is $33.74. The firm has a market cap of $61.88 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. 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 Co. has a one year low of $31.43 and a one year high of $38.70.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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 return on equity of 28.15% and a net margin of 23.95%. As a group, research analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CSX shares. Wells Fargo & Company lowered their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. BMO Capital Markets cut their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Stephens reissued an “overweight” rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. dropped their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

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.