Waycross Partners LLC Sells 38,902 Shares of CSX Co. (NASDAQ:CSX)

Waycross Partners LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,141 shares of the transportation company’s stock after selling 38,902 shares during the quarter. CSX accounts for 1.8% of Waycross Partners LLC’s investment portfolio, making the stock its 24th largest holding. Waycross Partners LLC’s holdings in CSX were worth $9,747,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC bought a new position in CSX in the 4th quarter valued at $27,000. Life Planning Partners Inc purchased a new position in shares of CSX during the 4th quarter valued at $27,000. Venturi Wealth Management LLC lifted its position in shares of CSX by 228.4% during the 3rd 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 purchased a new position in shares of CSX during the 4th quarter valued at $34,000. Finally, Avion Wealth lifted its position in shares of 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 buying an additional 820 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Trading Down 2.2 %

Shares of CSX stock traded down $0.73 during midday trading on Tuesday, reaching $33.22. 17,483,721 shares of the company’s stock traded hands, compared to its average volume of 12,415,493. The stock has a 50 day moving average of $36.48 and a 200-day moving average of $34.54. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a market cap of $64.94 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. 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 (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the business earned $0.48 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts expect that CSX Co. will post 1.95 EPS for the current fiscal 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 given a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CSX shares. TD Cowen upped their price target on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Raymond James upped their target price on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Susquehanna raised their price target on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. UBS Group cut their price objective on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Stifel Nicolaus boosted their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.