Bradley Foster & Sargent Inc. CT Cuts Holdings in CSX Co. (NASDAQ:CSX)

Bradley Foster & Sargent Inc. CT reduced its holdings in CSX Co. (NASDAQ:CSX) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,482 shares of the transportation company’s stock after selling 592 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in CSX were worth $1,887,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in CSX by 9.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 322,810 shares of the transportation company’s stock valued at $11,147,000 after buying an additional 29,161 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of CSX in the 3rd quarter worth approximately $5,767,000. DT Investment Partners LLC increased its stake in CSX by 17.0% in the 3rd quarter. DT Investment Partners LLC now owns 4,740 shares of the transportation company’s stock valued at $164,000 after purchasing an additional 690 shares in the last quarter. Dakota Wealth Management raised its holdings in CSX by 21.9% during the third quarter. Dakota Wealth Management now owns 11,778 shares of the transportation company’s stock worth $407,000 after purchasing an additional 2,115 shares during the last quarter. Finally, Busey Bank boosted its position in CSX by 1.1% during the third quarter. Busey Bank now owns 29,920 shares of the transportation company’s stock worth $1,033,000 after purchasing an additional 328 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Loop Capital cut CSX from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Stephens restated an “overweight” rating and set a $38.00 target price on shares of CSX in a report on Friday, January 24th. Wells Fargo & Company reduced their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Susquehanna dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Benchmark restated a “buy” rating and set a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Trading Down 0.5 %

NASDAQ CSX opened at $32.30 on Friday. The company has a 50-day moving average of $32.63 and a 200-day moving average of $33.77. 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 Co. has a 12 month low of $31.43 and a 12 month high of $40.12. The company has a market cap of $62.29 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. As a group, equities analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 26.82%.

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.