Berkeley Inc Sells 202,895 Shares of CSX Co. (NASDAQ:CSX)

Berkeley Inc reduced its stake in CSX Co. (NASDAQ:CSX - Free Report) by 96.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,113 shares of the transportation company's stock after selling 202,895 shares during the period. Berkeley Inc's holdings in CSX were worth $230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSX. Brighton Jones LLC boosted its holdings in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after purchasing an additional 849 shares during the last quarter. Nilsine Partners LLC boosted its stake in CSX by 4.4% in the fourth quarter. Nilsine Partners LLC now owns 40,180 shares of the transportation company's stock valued at $1,297,000 after acquiring an additional 1,690 shares during the last quarter. Orca Wealth Management LLC purchased a new position in CSX in the fourth quarter valued at about $2,058,000. SteelPeak Wealth LLC purchased a new position in CSX in the fourth quarter valued at about $1,310,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in CSX by 2.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 363,948 shares of the transportation company's stock valued at $11,745,000 after acquiring an additional 8,887 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank of Canada dropped their target price on shares of CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets dropped their target price on shares of CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Stifel Nicolaus dropped their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Citigroup dropped their price target on shares of CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price target on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.90.

CSX Price Performance

NASDAQ CSX traded up $0.08 on Friday, hitting $31.50. The stock had a trading volume of 22,997,462 shares, compared to its average volume of 13,047,063. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market capitalization of $59.17 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The firm has a 50-day moving average of $29.06 and a 200-day moving average of $31.52.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, May 30th. CSX's payout ratio is 31.14%.

CSX 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.