Capital Group Private Client Services Inc. Cuts Position in CSX Co. (NASDAQ:CSX)

Capital Group Private Client Services Inc. decreased its holdings in CSX Co. (NASDAQ:CSX) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,158,878 shares of the transportation company’s stock after selling 36,131 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in CSX were worth $37,397,000 at the end of the most recent reporting period.

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

CSX Trading Up 1.1 %

CSX opened at $27.64 on Friday. 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 market cap of $52.09 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The business has a fifty day simple moving average of $30.18 and a 200-day simple moving average of $32.55.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio is presently 31.14%.

Analyst Ratings Changes

A number of equities analysts have commented on CSX shares. Royal Bank of Canada reduced their target price on CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a report on Thursday. Citigroup reduced their price objective on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their target price on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday. UBS Group reduced their target price on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday. Finally, BMO Capital Markets decreased their price target on shares of CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.95.

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.