Coastline Trust Co Sells 1,160 Shares of CSX Co. (NASDAQ:CSX)

Coastline Trust Co cut its stake in CSX Co. (NASDAQ:CSX) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,921 shares of the transportation company’s stock after selling 1,160 shares during the quarter. Coastline Trust Co’s holdings in CSX were worth $1,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Value Partners Investments Inc. purchased a new stake in CSX in the third quarter worth about $1,172,000. Morgan Stanley lifted its holdings in CSX by 3.1% in the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after purchasing an additional 739,411 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of CSX by 142.9% during the 3rd quarter. National Bank of Canada FI now owns 3,278,601 shares of the transportation company’s stock worth $100,147,000 after acquiring an additional 1,928,891 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of CSX by 414.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 51,534 shares of the transportation company’s stock worth $1,585,000 after acquiring an additional 41,524 shares during the period. Finally, American Century Companies Inc. increased its position in shares of CSX by 25.4% during the 3rd quarter. American Century Companies Inc. now owns 1,169,113 shares of the transportation company’s stock worth $35,950,000 after purchasing an additional 236,666 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CSX. Susquehanna upped their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 price target on shares of CSX in a research report on Thursday, January 25th. JPMorgan Chase & Co. decreased their price objective on CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Raymond James increased their price objective on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Finally, StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.88.

CSX Stock Down 0.7 %

Shares of NASDAQ:CSX traded down $0.27 during mid-day trading on Tuesday, hitting $36.51. 10,635,513 shares of the company traded hands, compared to its average volume of 11,657,976. The firm has a market cap of $71.47 billion, a P/E ratio of 19.99, a PEG ratio of 2.15 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The firm’s 50 day simple moving average is $37.03 and its 200 day simple moving average is $33.94.

CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS. On average, equities analysts anticipate that CSX Co. will post 1.96 EPS for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s payout ratio is 26.09%.

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.