Flagship Harbor Advisors LLC Decreases Stock Holdings in CSX Co. (NASDAQ:CSX)

Posted by on Mar 24th, 2023

Flagship Harbor Advisors LLC cut its stake in shares of CSX Co. (NASDAQ:CSX – Get Rating) by 32.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 16,547 shares of the transportation company’s stock after selling 8,056 shares during the period. Flagship Harbor Advisors LLC’s holdings in CSX were worth $513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OneAscent Wealth Management LLC boosted its stake in shares of CSX by 4.7% in the fourth quarter. OneAscent Wealth Management LLC now owns 15,236 shares of the transportation company’s stock worth $472,000 after acquiring an additional 680 shares during the last quarter. Defender Capital LLC. acquired a new stake in CSX during the 4th quarter worth $214,000. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in shares of CSX by 4.7% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 40,183 shares of the transportation company’s stock worth $1,245,000 after buying an additional 1,786 shares in the last quarter. OneAscent Financial Services LLC lifted its stake in shares of CSX by 14.9% in the fourth quarter. OneAscent Financial Services LLC now owns 12,911 shares of the transportation company’s stock worth $400,000 after buying an additional 1,671 shares in the last quarter. Finally, DNB Asset Management AS boosted its position in CSX by 1.8% during the fourth quarter. DNB Asset Management AS now owns 656,180 shares of the transportation company’s stock worth $20,328,000 after acquiring an additional 11,353 shares during the last quarter. 72.91% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock opened at $28.08 on Friday. The stock has a market cap of $57.92 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The company has a fifty day simple moving average of $30.79 and a 200-day simple moving average of $30.41. The company has a current ratio of 1.56, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. CSX Co. has a 12-month low of $25.80 and a 12-month high of $38.17.

CSX (NASDAQ:CSX – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. CSX had a return on equity of 31.48% and a net margin of 28.05%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the firm posted $0.42 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were issued a dividend of $0.11 per share. The ex-dividend date was Monday, February 27th. This represents a $0.44 dividend on an annualized basis and a yield of 1.57%. This is a boost from CSX’s previous quarterly dividend of $0.10. CSX’s dividend payout ratio (DPR) is presently 22.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Benchmark dropped their price target on CSX from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. Cowen raised their price objective on shares of CSX from $33.00 to $35.00 and gave the stock a “market perform” rating in a research report on Thursday, January 26th. StockNews.com initiated coverage on shares of CSX in a report on Friday, March 17th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of CSX from $36.00 to $39.00 in a report on Monday, November 28th. Finally, Barclays upped their price objective on CSX from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, November 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.39.

About CSX

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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