Intact Investment Management Inc. lessened its position in CSX Co. (NASDAQ:CSX – Free Report) by 27.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,500 shares of the transportation company’s stock after selling 39,300 shares during the quarter. Intact Investment Management Inc.’s holdings in CSX were worth $3,554,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Value Partners Investments Inc. acquired a new stake in CSX during the third quarter worth about $1,172,000. Morgan Stanley lifted its stake in CSX by 3.1% during the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after acquiring an additional 739,411 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in CSX by 3,241.9% during the 4th quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock valued at $8,158,000 after acquiring an additional 228,263 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CSX by 5.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock valued at $25,078,000 after acquiring an additional 34,730 shares in the last quarter. Finally, Sapient Capital LLC purchased a new stake in CSX during the 4th quarter worth approximately $1,279,000. Institutional investors own 73.57% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on CSX. Royal Bank of Canada cut their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Stifel Nicolaus raised their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. UBS Group lowered their target price on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Raymond James lifted their price objective on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.
CSX Stock Down 0.1 %
Shares of NASDAQ:CSX traded down $0.04 during midday trading on Friday, hitting $33.99. 10,661,945 shares of the company’s stock traded hands, compared to its average volume of 13,982,926. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a market cap of $66.45 billion, a PE ratio of 18.68, a P/E/G ratio of 2.04 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The firm’s fifty day moving average price is $36.61 and its two-hundred day moving average price is $34.49.
CSX (NASDAQ:CSX – Get Free Report) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, equities research analysts anticipate that CSX Co. will post 1.95 EPS for the current fiscal year.
CSX Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.12 per share. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a yield of 1.41%. CSX’s payout ratio is 26.37%.
CSX 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.