Axxcess Wealth Management LLC Lowers Stock Holdings in CSX Co. (NASDAQ:CSX)

Axxcess Wealth Management LLC reduced its position in shares of CSX Co. (NASDAQ:CSX) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 270,903 shares of the transportation company’s stock after selling 837 shares during the period. Axxcess Wealth Management LLC’s holdings in CSX were worth $8,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CSX. Diversified Trust Co raised its stake in shares of CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after acquiring an additional 46,473 shares in the last quarter. Marshall Financial Group LLC acquired a new stake in shares of CSX in the fourth quarter valued at $1,084,000. Carnegie Investment Counsel raised its stake in shares of CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after acquiring an additional 8,474 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of CSX by 6.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after acquiring an additional 41,547 shares in the last quarter. Finally, Waycross Partners LLC raised its stake in shares of CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after acquiring an additional 40,611 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of CSX opened at $30.33 on Tuesday. CSX Co. has a twelve month low of $28.98 and a twelve month high of $38.03. The stock’s 50 day moving average is $32.20 and its two-hundred day moving average is $33.46. The firm has a market capitalization of $57.46 billion, a PE ratio of 16.94, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.71%. CSX’s payout ratio is 29.05%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSX. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective on the stock. Susquehanna cut their price target on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Stephens restated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Robert W. Baird cut their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, BMO Capital Markets cut their price target on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.