Larson Financial Group LLC Reduces Holdings in CSX Co. (NASDAQ:CSX)

Larson Financial Group LLC trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,605 shares of the transportation company’s stock after selling 352 shares during the quarter. Larson Financial Group LLC’s holdings in CSX were worth $181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp grew its position in CSX by 0.6% during the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after acquiring an additional 455,258 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CSX by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after buying an additional 190,346 shares during the period. Fisher Asset Management LLC lifted its holdings in CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after buying an additional 299,536 shares during the period. Bank of New York Mellon Corp lifted its holdings in CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares during the period. Finally, FMR LLC lifted its holdings in CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after buying an additional 1,447,651 shares during the period. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

Shares of CSX opened at $29.52 on Wednesday. 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 $29.50 and a one year high of $38.14. The firm has a market capitalization of $55.93 billion, a P/E ratio of 16.49, a PEG ratio of 1.92 and a beta of 1.25. The business has a fifty day moving average of $32.39 and a 200 day moving average of $33.58.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, sell-side analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.76%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. CSX’s payout ratio is presently 29.05%.

Analyst Ratings Changes

CSX has been the subject of several research analyst reports. Royal Bank of Canada dropped their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of CSX in a report on Monday, January 27th. JPMorgan Chase & Co. lowered their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Robert W. Baird lowered their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.