Bessemer Group Inc. Sells 28,870 Shares of CSX Corporation (NASDAQ:CSX)

Bessemer Group Inc. trimmed its position in CSX Corporation (NASDAQ:CSX - Free Report) by 21.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,751 shares of the transportation company's stock after selling 28,870 shares during the quarter. Bessemer Group Inc.'s holdings in CSX were worth $3,081,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the 4th quarter valued at $27,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX during the fourth quarter worth $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter valued at about $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in CSX by 219.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock valued at $34,000 after buying an additional 714 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 1.0%

NASDAQ CSX traded up $0.34 during trading on Friday, hitting $32.91. The stock had a trading volume of 20,443,890 shares, compared to its average volume of 13,309,326. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The company has a market capitalization of $61.82 billion, a PE ratio of 19.71, a P/E/G ratio of 2.88 and a beta of 1.24. The company's 50-day moving average price is $30.64 and its two-hundred day moving average price is $31.04.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. As a group, sell-side analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. CSX's dividend payout ratio is 31.14%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America increased their price target on shares of CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Susquehanna reiterated a "neutral" rating and issued a $35.00 target price on shares of CSX in a report on Tuesday, June 24th. Benchmark reissued a "buy" rating and set a $35.00 price target on shares of CSX in a research report on Thursday, April 17th. Barclays decreased their price target on shares of CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Royal Bank Of Canada dropped their price objective on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 17th. Nine investment 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $34.14.

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.