Pinion Investment Advisors LLC Sells 850 Shares of CSX Co. (NASDAQ:CSX)

Pinion Investment Advisors LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,291 shares of the transportation company’s stock after selling 850 shares during the period. Pinion Investment Advisors LLC’s holdings in CSX were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its holdings in CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after acquiring an additional 293 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after purchasing an additional 306 shares in the last quarter. Associated Banc Corp grew its position in CSX by 0.6% in the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after purchasing an additional 310 shares during the period. Joel Isaacson & Co. LLC increased its stake in CSX by 2.4% during the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after purchasing an additional 310 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its stake in CSX by 1.0% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after purchasing an additional 313 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSX. Raymond James reiterated an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Royal Bank of Canada decreased 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. BMO Capital Markets dropped their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Susquehanna decreased their price target on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Barclays lowered their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Stock Performance

NASDAQ CSX opened at $31.93 on Tuesday. The stock has a market capitalization of $61.57 billion, a PE ratio of 17.84, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a 1 year low of $31.43 and a 1 year high of $38.61. The company’s 50 day simple moving average is $32.59 and its two-hundred day simple moving average is $33.69. 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 (NASDAQ:CSX) last posted its quarterly earnings data 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 return on equity of 28.15% and a net margin of 23.95%. Analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.63%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 29.05%.

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.