CSX Co. (NASDAQ:CSX) Holdings Lowered by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 37.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 600,027 shares of the transportation company’s stock after selling 356,751 shares during the period. Van ECK Associates Corp’s holdings in CSX were worth $19,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in CSX by 20.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after buying an additional 80,423 shares during the period. Diversified Trust Co increased its position in CSX by 180.7% in the 4th 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 acquired a new position in CSX in the 4th quarter worth about $1,084,000. Thrivent Financial for Lutherans increased its position in CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares during the last quarter. Finally, Carnegie Investment Counsel increased its position in CSX by 1.4% in the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after purchasing an additional 8,474 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BMO Capital Markets dropped their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada dropped their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Citigroup reduced their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced 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, Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Up 0.8 %

NASDAQ:CSX opened at $33.37 on Friday. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $64.35 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.91 and a beta of 1.23. The stock’s fifty day simple moving average is $32.74 and its 200-day simple moving average is $33.83.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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%. Equities research analysts expect that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.56%. CSX’s 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.