Logan Capital Management Inc. Reduces Holdings in CSX Co. (NASDAQ:CSX)

Logan Capital Management Inc. decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,970 shares of the transportation company’s stock after selling 820 shares during the period. Logan Capital Management Inc.’s holdings in CSX were worth $257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Joel Isaacson & Co. LLC lifted its position in CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after acquiring an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its position in CSX by 1.0% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after buying an additional 313 shares in the last quarter. West Branch Capital LLC lifted its position in shares of CSX by 3.3% during the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock valued at $333,000 after buying an additional 332 shares in the last quarter. Alhambra Investment Management LLC grew its stake in shares of CSX by 4.3% during the 4th quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company’s stock valued at $268,000 after acquiring an additional 342 shares during the period. Finally, Trust Point Inc. boosted its position in shares of CSX by 2.6% in the fourth quarter. Trust Point Inc. now owns 13,722 shares of the transportation company’s stock worth $443,000 after purchasing an additional 344 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 5.5%

Shares of NASDAQ:CSX opened at $30.31 on Tuesday. The firm has a market capitalization of $56.94 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The business has a 50 day simple moving average of $28.77 and a two-hundred day simple moving average of $31.82. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. 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 issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, equities analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.72%. CSX’s dividend payout ratio (DPR) is 31.14%.

Analyst Ratings Changes

Several brokerages have recently commented on CSX. Susquehanna decreased their price objective on shares of CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a research report on Thursday, April 17th. Barclays dropped their price objective on CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Benchmark reaffirmed a “buy” rating and set a $35.00 price objective on shares of CSX in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price target on the stock. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.90.

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.