LSV Asset Management Cuts Stake in CSX Co. (NASDAQ:CSX)

LSV Asset Management decreased its stake in CSX Co. (NASDAQ:CSX) by 37.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,900 shares of the transportation company’s stock after selling 6,000 shares during the period. LSV Asset Management’s holdings in CSX were worth $319,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CSX. Norges Bank purchased a new position in CSX in the 4th quarter worth approximately $780,194,000. Bank of New York Mellon Corp grew its holdings in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in CSX by 471.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock valued at $217,808,000 after purchasing an additional 5,568,624 shares in the last quarter. Invesco Ltd. lifted its holdings in CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after buying an additional 2,977,212 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in CSX in the 4th quarter worth $85,959,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX opened at $27.90 on Wednesday. CSX Co. has a 12 month low of $26.22 and a 12 month high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a fifty day moving average price of $30.39 and a 200 day moving average price of $32.63. The company has a market cap of $52.58 billion, a P/E ratio of 15.59, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its quarterly 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 return on equity of 28.15% and a net margin of 23.95%. On average, research analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared 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 represents a $0.52 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analyst Ratings Changes

CSX has been the subject of several recent analyst reports. Susquehanna lowered their target price on CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research note on Thursday, March 27th. Stephens restated an “overweight” rating and set a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Finally, UBS Group reduced their price objective on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.55.

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.