CSX Co. (NASDAQ:CSX) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its holdings in CSX Co. (NASDAQ:CSX) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 119,061 shares of the transportation company’s stock after selling 2,849 shares during the period. Hartford Investment Management Co.’s holdings in CSX were worth $3,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. lifted its holdings in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of CSX during the 3rd quarter worth approximately $31,000. Addison Advisors LLC lifted its stake in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares in the last quarter. Fortitude Family Office LLC grew its holdings in CSX by 43.4% during the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in CSX during the fourth quarter worth $41,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSX has been the topic of several recent research reports. Susquehanna reduced their price objective on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Wells Fargo & Company decreased their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Benchmark reissued a “buy” rating and issued a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Finally, Stephens restated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Stock Performance

CSX stock opened at $32.92 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 12 month low of $31.43 and a 12 month high of $40.12. The company has a market cap of $63.48 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. The stock’s 50-day moving average is $32.82 and its 200-day moving average is $33.84.

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

CSX Increases Dividend

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

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.