Primecap Management Co. CA Sells 90,800 Shares of CSX Co. (NASDAQ:CSX)

Primecap Management Co. CA trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 3.9% in the fourth quarter, Holdings Channel reports. The fund owned 2,239,600 shares of the transportation company’s stock after selling 90,800 shares during the quarter. Primecap Management Co. CA’s holdings in CSX were worth $72,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its stake in shares of CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after buying an additional 293 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after buying an additional 306 shares during the period. Associated Banc Corp lifted its stake in shares of CSX by 0.6% in the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after buying an additional 310 shares during the period. Joel Isaacson & Co. LLC lifted its stake in shares of CSX by 2.4% in the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after buying an additional 310 shares during the period. Finally, Patrick M Sweeney & Associates Inc. lifted its stake in shares of CSX by 1.0% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after buying an additional 313 shares during the period. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

NASDAQ CSX opened at $30.26 on Wednesday. The firm has a market cap of $57.33 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.92 and a beta of 1.25. The company has a 50 day moving average of $32.16 and a 200-day moving average of $33.44. 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 Co. has a 1-year low of $28.98 and a 1-year high of $38.03.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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, equities analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CSX. Royal Bank of Canada reduced their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Raymond James reissued an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Susquehanna dropped their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.