CSX Co. (NASDAQ:CSX) Shares Sold by Gibraltar Capital Management Inc.

Gibraltar Capital Management Inc. reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 19.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,683 shares of the transportation company’s stock after selling 8,750 shares during the quarter. Gibraltar Capital Management Inc.’s holdings in CSX were worth $1,272,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. ST Germain D J Co. Inc. grew its holdings in shares of CSX by 4.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 12,896 shares of the transportation company’s stock worth $397,000 after acquiring an additional 600 shares during the period. Commonwealth Equity Services LLC grew its stake in CSX by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 889,160 shares of the transportation company’s stock worth $27,342,000 after purchasing an additional 11,723 shares in the last quarter. Xponance Inc. grew its stake in CSX by 0.9% in the third quarter. Xponance Inc. now owns 268,145 shares of the transportation company’s stock worth $8,245,000 after purchasing an additional 2,482 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in CSX by 0.8% in the third quarter. Pinnacle Associates Ltd. now owns 119,185 shares of the transportation company’s stock worth $3,665,000 after acquiring an additional 968 shares during the last quarter. Finally, FinTrust Capital Advisors LLC raised its holdings in shares of CSX by 41.7% during the third quarter. FinTrust Capital Advisors LLC now owns 1,511 shares of the transportation company’s stock valued at $46,000 after buying an additional 445 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus boosted their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Susquehanna raised their target price on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. TD Cowen raised their price target on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Raymond James lifted their target price on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada cut their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.00.

CSX Price Performance

NASDAQ:CSX traded down $0.73 during trading hours on Tuesday, reaching $33.22. The stock had a trading volume of 17,483,721 shares, compared to its average volume of 12,415,493. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a 50 day moving average price of $36.48 and a two-hundred day moving average price of $34.54. The stock has a market capitalization of $64.94 billion, a PE ratio of 18.25, a PEG ratio of 2.04 and a beta of 1.18.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the company posted $0.48 EPS. CSX’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts anticipate that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s dividend payout ratio is currently 26.37%.

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.