Grantham Mayo Van Otterloo & Co. LLC Reduces Position in CSX Co. (NASDAQ:CSX)

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in CSX Co. (NASDAQ:CSX) by 12.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 64,132 shares of the transportation company’s stock after selling 9,471 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in CSX were worth $2,070,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in CSX in the 4th quarter valued at about $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX in the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. grew its stake in CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in CSX by 216.2% during the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock worth $35,000 after purchasing an additional 746 shares during the period. Finally, Atala Financial Inc bought a new stake in CSX during the 4th quarter valued at $36,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CSX shares. Barclays dropped their price target on CSX from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. BMO Capital Markets cut their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company dropped their target price on CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, January 10th. Finally, Raymond James restated an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

CSX Stock Down 0.4 %

NASDAQ:CSX opened at $27.09 on Tuesday. The company’s 50 day moving average is $31.19 and its two-hundred day moving average is $32.97. The company has a market cap of $51.06 billion, a PE ratio of 15.13, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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%. Analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.92%. CSX’s dividend payout ratio is currently 29.05%.

CSX Company 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.