CSX Co. (NASDAQ:CSX) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 73.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,000 shares of the transportation company’s stock after selling 267,113 shares during the period. Duff & Phelps Investment Management Co.’s holdings in CSX were worth $3,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSX. Larson Financial Group LLC boosted its holdings in CSX by 20.2% in the third quarter. Larson Financial Group LLC now owns 5,957 shares of the transportation company’s stock worth $206,000 after acquiring an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in CSX by 4.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,679,505 shares of the transportation company’s stock worth $92,523,000 after purchasing an additional 109,422 shares in the last quarter. FMR LLC grew its position in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new position in CSX during the 3rd quarter valued at approximately $66,000. Finally, Townsquare Capital LLC raised its holdings in shares of CSX by 8.2% in the third quarter. Townsquare Capital LLC now owns 221,010 shares of the transportation company’s stock worth $7,631,000 after buying an additional 16,772 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.1 %

Shares of CSX opened at $29.92 on Friday. The stock has a 50 day moving average price of $31.82 and a 200 day moving average price of $33.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock has a market capitalization of $56.69 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a one year low of $28.98 and a one year high of $37.18.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 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%. Equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CSX shares. Wells Fargo & Company dropped their price objective on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday. Stephens reiterated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Susquehanna decreased their price objective on shares of CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research note on Thursday. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, Barclays decreased their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $36.75.

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.