Intech Investment Management LLC Sells 28,604 Shares of CSX Co. (NASDAQ:CSX)

Intech Investment Management LLC reduced its holdings in CSX Co. (NASDAQ:CSX) by 33.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,169 shares of the transportation company’s stock after selling 28,604 shares during the quarter. Intech Investment Management LLC’s holdings in CSX were worth $1,845,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. Diversified Trust Co increased its position in shares of CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new position in CSX during the fourth quarter valued at approximately $1,084,000. Carnegie Investment Counsel raised its stake in shares of CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after acquiring an additional 8,474 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of CSX by 6.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after acquiring an additional 41,547 shares during the last quarter. Finally, Waycross Partners LLC boosted its stake in shares of CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after purchasing an additional 40,611 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CSX shares. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Robert W. Baird cut their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Performance

CSX stock opened at $29.98 on Friday. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $38.03. The stock’s 50 day simple moving average is $32.07 and its two-hundred day simple moving average is $33.39. 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 stock has a market cap of $56.80 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. CSX’s dividend payout ratio is currently 29.05%.

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.