Bfsg LLC Sells 9,505 Shares of CSX Co. (NASDAQ:CSX)

Bfsg LLC reduced its holdings in CSX Co. (NASDAQ:CSX) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 331,925 shares of the transportation company’s stock after selling 9,505 shares during the quarter. CSX accounts for 1.7% of Bfsg LLC’s portfolio, making the stock its 8th largest position. Bfsg LLC’s holdings in CSX were worth $11,508,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CSX. Assenagon Asset Management S.A. increased its position in shares of CSX by 416.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock valued at $155,912,000 after purchasing an additional 4,089,150 shares during the period. Lazard Asset Management LLC increased its position in shares of CSX by 10.4% during the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after purchasing an additional 2,748,738 shares during the period. PNC Financial Services Group Inc. increased its position in shares of CSX by 68.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the transportation company’s stock valued at $160,970,000 after purchasing an additional 2,119,965 shares during the period. Barclays PLC increased its position in shares of CSX by 29.0% during the 3rd quarter. Barclays PLC now owns 7,160,597 shares of the transportation company’s stock valued at $220,189,000 after purchasing an additional 1,609,942 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of CSX by 43.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock valued at $146,128,000 after purchasing an additional 1,446,685 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Susquehanna lifted their target price on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. BMO Capital Markets lifted their target price on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus lifted their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. UBS Group decreased their target price on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, StockNews.com cut CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.00.

CSX Stock Up 0.1 %

CSX traded up $0.05 during trading on Thursday, reaching $33.72. 3,519,553 shares of the stock traded hands, compared to its average volume of 12,280,002. The stock has a market cap of $65.92 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 2.08 and a beta of 1.18. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The stock’s 50-day simple moving average is $36.73 and its two-hundred day simple moving average is $34.45.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, equities research analysts expect that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s 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.