ING Groep NV Cuts Holdings in CSX Co. (NASDAQ:CSX)

ING Groep NV cut its holdings in CSX Co. (NASDAQ:CSX) by 93.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,612 shares of the transportation company’s stock after selling 1,708,126 shares during the quarter. ING Groep NV’s holdings in CSX were worth $4,086,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CSX. Allspring Global Investments Holdings LLC grew its holdings in shares of CSX by 9.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 322,810 shares of the transportation company’s stock worth $11,147,000 after acquiring an additional 29,161 shares during the period. International Assets Investment Management LLC acquired a new stake in CSX in the third quarter valued at $5,767,000. Dakota Wealth Management grew its holdings in CSX by 21.9% in the third quarter. Dakota Wealth Management now owns 11,778 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 2,115 shares during the last quarter. Ballentine Partners LLC increased its position in shares of CSX by 2.8% in the third quarter. Ballentine Partners LLC now owns 43,112 shares of the transportation company’s stock valued at $1,489,000 after buying an additional 1,168 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in shares of CSX by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after buying an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.5 %

Shares of NASDAQ CSX opened at $32.30 on Friday. The stock has a market capitalization of $62.29 billion, a PE ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23. 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 fifty day moving average of $32.63 and a 200-day moving average of $33.77. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12.

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 analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.61%. CSX’s dividend payout ratio (DPR) is presently 26.82%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSX. Susquehanna dropped their target price on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Barclays dropped their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Raymond James restated an “outperform” rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

About CSX

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.