SG Americas Securities LLC Decreases Holdings in CSX Corporation $CSX

SG Americas Securities LLC reduced its stake in CSX Corporation (NASDAQ:CSX) by 41.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,381,746 shares of the transportation company’s stock after selling 977,271 shares during the period. SG Americas Securities LLC owned approximately 0.07% of CSX worth $50,088,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CSX. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of CSX in the second quarter worth about $25,000. FNY Investment Advisers LLC raised its holdings in shares of CSX by 437.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after buying an additional 586 shares during the period. WFA of San Diego LLC purchased a new stake in shares of CSX during the 2nd quarter valued at about $28,000. Pinnacle Bancorp Inc. lifted its position in CSX by 121.5% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after acquiring an additional 729 shares in the last quarter. Finally, Aventura Private Wealth LLC acquired a new position in CSX during the 4th quarter worth approximately $63,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Morgan Stanley set a $30.00 target price on shares of CSX and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Evercore downgraded shares of CSX from an “outperform” rating to an “in-line” rating and set a $41.00 target price for the company. in a research note on Thursday, March 19th. Jefferies Financial Group raised their price target on shares of CSX from $42.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of CSX in a research note on Thursday, February 19th. Eighteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus price target of $40.48.

Insider Activity at CSX

In other news, CAO Diana B. Sorfleet sold 90,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the sale, the chief accounting officer owned 165,613 shares of the company’s stock, valued at approximately $6,882,876.28. The trade was a 35.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen Fortune sold 31,456 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the completion of the sale, the executive vice president owned 82,034 shares in the company, valued at approximately $3,170,614.10. This trade represents a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 188,123 shares of company stock valued at $7,454,854 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.

CSX Price Performance

CSX stock opened at $38.87 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $43.35. The stock’s 50 day moving average is $39.67 and its two-hundred day moving average is $36.86. The company has a market capitalization of $72.28 billion, a PE ratio of 25.24, a P/E/G ratio of 1.99 and a beta of 1.27.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. Analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $0.14 dividend. This is a boost from CSX’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, February 27th. CSX’s dividend payout ratio is currently 36.36%.

CSX Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.