Sawgrass Asset Management LLC Sells 589 Shares of CSX Co. (NASDAQ:CSX)

Sawgrass Asset Management LLC trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,919 shares of the transportation company’s stock after selling 589 shares during the quarter. Sawgrass Asset Management LLC’s holdings in CSX were worth $901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSX. Exchange Traded Concepts LLC boosted its position in shares of CSX by 255.9% during the third quarter. Exchange Traded Concepts LLC now owns 7,505 shares of the transportation company’s stock worth $259,000 after purchasing an additional 5,396 shares in the last quarter. Creative Planning raised its holdings in shares of CSX by 2.2% during the third quarter. Creative Planning now owns 634,696 shares of the transportation company’s stock worth $21,916,000 after acquiring an additional 13,613 shares during the period. NBC Securities Inc. raised its holdings in shares of CSX by 8.3% during the third quarter. NBC Securities Inc. now owns 7,323 shares of the transportation company’s stock worth $252,000 after acquiring an additional 560 shares during the period. Mason & Associates LLC raised its holdings in shares of CSX by 23.9% during the third quarter. Mason & Associates LLC now owns 15,121 shares of the transportation company’s stock worth $522,000 after acquiring an additional 2,920 shares during the period. Finally, Jamison Private Wealth Management Inc. raised its holdings in shares of CSX by 33.7% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after acquiring an additional 316 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $32.92 on Thursday. The company has a market capitalization of $63.48 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.91 and a beta of 1.23. 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 50-day simple moving average of $32.82 and a 200 day simple moving average of $33.84. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, sell-side analysts predict that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.58%. CSX’s payout ratio is presently 26.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Susquehanna lowered their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Raymond James reiterated an “outperform” rating and issued a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Finally, BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

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.