Sawgrass Asset Management LLC Sells 589 Shares of CSX Co. (NASDAQ:CSX)

Sawgrass Asset Management LLC lowered its holdings in CSX Co. (NASDAQ:CSX) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,919 shares of the transportation company’s stock after selling 589 shares during the quarter. Sawgrass Asset Management LLC’s holdings in CSX were worth $901,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Perpetual Ltd bought a new stake in CSX during the fourth quarter worth $83,301,000. Assenagon Asset Management S.A. boosted its holdings in shares of CSX by 318.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares in the last quarter. FMR LLC boosted its holdings in shares of CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after purchasing an additional 1,447,651 shares in the last quarter. KBC Group NV boosted its holdings in shares of CSX by 616.4% in the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after purchasing an additional 958,957 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after purchasing an additional 857,302 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock opened at $32.92 on Thursday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $32.82 and a 200-day moving average price of $33.84. The firm has a market cap of $63.48 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate 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 1.86 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.58%. CSX’s dividend payout ratio (DPR) is currently 26.82%.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Stephens reiterated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Barclays dropped their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, TD Cowen dropped their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $37.16.

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.