E Fund Management Co. Ltd. Lowers Holdings in CSX Co. (NASDAQ:CSX)

E Fund Management Co. Ltd. reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,675 shares of the transportation company’s stock after selling 2,384 shares during the period. E Fund Management Co. Ltd.’s holdings in CSX were worth $682,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of CSX in the 4th quarter valued at approximately $27,000. Life Planning Partners Inc acquired a new position in shares of CSX during the 4th quarter worth about $27,000. Venturi Wealth Management LLC increased its holdings in shares of CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 692 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in CSX during the fourth quarter worth approximately $34,000. Finally, Avion Wealth boosted its holdings in CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 820 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CSX shares. Jefferies Financial Group dropped their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, April 18th. Susquehanna boosted their price objective on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. TD Cowen raised their target price on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Finally, StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

CSX Trading Up 0.8 %

Shares of CSX traded up $0.26 on Wednesday, hitting $34.22. 8,092,222 shares of the stock traded hands, compared to its average volume of 12,196,176. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The stock’s 50 day moving average is $36.06 and its two-hundred day moving average is $34.64. The firm has a market capitalization of $66.90 billion, a P/E ratio of 18.80, a P/E/G ratio of 2.03 and a beta of 1.19. 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 posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion for 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 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, sell-side analysts predict that CSX Co. will post 1.95 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. 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.