CSX Co. (NASDAQ:CSX) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 33.2% during the fourth quarter, Holdings Channel reports. The firm owned 27,352 shares of the transportation company’s stock after selling 13,599 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in CSX were worth $883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in CSX during the 4th quarter worth approximately $780,194,000. Bank of New York Mellon Corp boosted its holdings in CSX by 40.5% in the fourth 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 during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake 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 worth $217,808,000 after purchasing an additional 5,568,624 shares in the last quarter. Invesco Ltd. increased its holdings in CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after purchasing an additional 2,977,212 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in CSX in the 4th quarter valued at about $85,959,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Down 2.0 %

Shares of NASDAQ:CSX opened at $27.35 on Thursday. 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 market cap of $51.55 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10. The firm has a fifty day moving average price of $30.29 and a 200 day moving average price of $32.60.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. 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 dividend payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CSX shares. Barclays lowered their price objective on CSX from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Jefferies Financial Group dropped their price objective on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price objective for the company. Stifel Nicolaus dropped their target price on CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Monday. Finally, Citigroup decreased their price target on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.55.

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.