Intech Investment Management LLC Cuts Stock Position in CSX Co. (NASDAQ:CSX)

Intech Investment Management LLC decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 33.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 57,169 shares of the transportation company’s stock after selling 28,604 shares during the quarter. Intech Investment Management LLC’s holdings in CSX were worth $1,845,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of CSX during the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new stake in shares of CSX in the 4th quarter worth $33,000. Center for Financial Planning Inc. raised its stake in shares of 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 during the last quarter. Atala Financial Inc bought a new position in shares of CSX during the fourth quarter valued at $36,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of CSX during the fourth quarter valued at $39,000. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

Shares of NASDAQ CSX opened at $29.98 on Friday. The stock has a market cap of $56.80 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. CSX Co. has a 1 year low of $28.98 and a 1 year high of $38.03. The firm has a fifty day moving average price of $32.07 and a 200-day moving average price of $33.39. 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 (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

Wall Street Analyst Weigh In

CSX has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Citigroup lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and issued a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Finally, Barclays cut their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CSX presently 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.