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

Arrowstreet Capital Limited Partnership reduced its stake in CSX Co. (NASDAQ:CSX) by 59.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,762,394 shares of the transportation company’s stock after selling 5,458,918 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.20% of CSX worth $121,412,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

CSX has been the topic of several research reports. Raymond James reissued an “outperform” rating and set a $37.00 price target (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Stephens reissued an “overweight” rating and issued a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Barclays decreased their target price on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Royal Bank of Canada cut their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Seven research 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 currently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

CSX Stock Performance

Shares of CSX stock opened at $29.11 on Monday. The stock’s 50-day moving average is $31.75 and its two-hundred day moving average is $33.20. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.10. The firm has a market cap of $54.86 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts predict 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. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is presently 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.