Sheets Smith Wealth Management Sells 668 Shares of CSX Co. (NASDAQ:CSX)

Sheets Smith Wealth Management trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,560 shares of the transportation company’s stock after selling 668 shares during the period. Sheets Smith Wealth Management’s holdings in CSX were worth $1,268,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CSX. Fortitude Family Office LLC acquired a new position in shares of CSX during the fourth quarter worth approximately $27,000. Life Planning Partners Inc acquired a new position in CSX during the fourth quarter worth $27,000. Venturi Wealth Management LLC grew its holdings in shares of CSX by 228.4% during the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after buying an additional 692 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in CSX in the 4th quarter valued at about $34,000. Finally, Avion Wealth boosted its stake in CSX by 450.5% during the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 820 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 0.3 %

Shares of CSX traded down $0.11 during trading hours on Monday, hitting $33.74. The company had a trading volume of 4,233,104 shares, compared to its average volume of 12,217,703. The firm has a market cap of $65.96 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.03 and a beta of 1.19. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The stock’s 50 day moving average price is $36.23 and its 200 day moving average price is $34.59. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share 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 firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s revenue was down .8% on a year-over-year basis. On average, research analysts predict that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. 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 1.42%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is currently 26.37%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Susquehanna raised their target price on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Raymond James upped their price target on 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 decreased their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.