Fmr LLC Cuts Position in CSX Co. (NASDAQ:CSX)

Fmr LLC lessened its holdings in CSX Co. (NASDAQ:CSX) by 5.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,728,716 shares of the transportation company’s stock after selling 884,146 shares during the quarter. Fmr LLC’s holdings in CSX were worth $475,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sepio Capital LP increased its stake in shares of CSX by 3.8% in the 4th quarter. Sepio Capital LP now owns 11,532 shares of the transportation company’s stock valued at $372,000 after purchasing an additional 427 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co increased its stake in CSX by 49.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 304,000 shares of the transportation company’s stock worth $9,810,000 after buying an additional 100,000 shares in the last quarter. Russell Investments Group Ltd. increased its stake in CSX by 11.7% during the 4th quarter. Russell Investments Group Ltd. now owns 2,529,936 shares of the transportation company’s stock worth $81,619,000 after buying an additional 264,670 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in CSX by 16.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,104,626 shares of the transportation company’s stock worth $100,186,000 after buying an additional 435,769 shares in the last quarter. Finally, Sit Investment Associates Inc. purchased a new stake in CSX during the 4th quarter worth approximately $10,179,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 7.4 %

CSX opened at $28.66 on Thursday. CSX Co. has a one year low of $26.22 and a one year high of $37.10. The stock has a market capitalization of $54.02 billion, a PE ratio of 16.01, a P/E/G ratio of 1.92 and a beta of 1.23. The business’s 50 day moving average price is $30.77 and its 200 day moving average price is $32.80. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. As a group, equities research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSX. Stephens reiterated an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Royal Bank of Canada cut their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Robert W. Baird cut their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft started coverage on CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 price target for the company. Finally, BMO Capital Markets dropped their price target on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $35.85.

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.