Duff & Phelps Investment Management Co. Trims Stake in CSX Co. (NASDAQ:CSX)

Duff & Phelps Investment Management Co. cut its holdings in CSX Co. (NASDAQ:CSX) by 73.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in CSX in the 4th quarter worth approximately $31,000. Sierra Ocean LLC bought a new position in shares of CSX in the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. increased its stake in shares of CSX by 205.7% in 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 bought a new stake in shares of CSX during the 4th quarter valued at $36,000. Finally, Millstone Evans Group LLC purchased a new position in shares of CSX during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CSX shares. Citigroup lowered their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. BMO Capital Markets cut their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Finally, Raymond James restated an “outperform” rating and set a $37.00 price objective (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.75.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $29.92 on Friday. 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 firm has a market cap of $56.69 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The firm’s 50 day simple moving average is $31.82 and its 200-day simple moving average is $33.23. 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 earnings per share 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%. As a group, equities analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.74%. CSX’s dividend payout ratio (DPR) is 29.05%.

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.