CSX Co. (NASDAQ:CSX) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 59.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,762,394 shares of the transportation company’s stock after selling 5,458,918 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in CSX were worth $121,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CSX. SBI Securities Co. Ltd. purchased a new position in CSX during the 4th quarter worth $31,000. Sierra Ocean LLC acquired a new position in shares of CSX during the fourth quarter worth about $33,000. Center for Financial Planning Inc. raised its holdings in CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares in the last quarter. Atala Financial Inc acquired a new stake in CSX in the fourth quarter valued at about $36,000. Finally, Millstone Evans Group LLC purchased a new stake in CSX in the 4th quarter valued at approximately $37,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSX has been the subject of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of CSX in a report on Monday, January 27th. Royal Bank of Canada reduced their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Citigroup lowered their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Stephens restated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

CSX Trading Down 2.7 %

CSX stock opened at $29.11 on Monday. The stock has a market cap of $54.86 billion, a PE ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $31.75 and a 200 day moving average price of $33.20. CSX Co. has a 52 week low of $28.98 and a 52 week high of $37.10.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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 predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. CSX’s dividend payout ratio (DPR) is 29.05%.

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.