CSX Co. (NASDAQ:CSX) Shares Sold by ING Groep NV

ING Groep NV lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 93.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 126,612 shares of the transportation company’s stock after selling 1,708,126 shares during the quarter. ING Groep NV’s holdings in CSX were worth $4,086,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Avior Wealth Management LLC lifted its holdings in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after buying an additional 293 shares in the last quarter. Lake Street Advisors Group LLC increased its position in shares of CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after acquiring an additional 306 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after acquiring an additional 306 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after purchasing an additional 309 shares during the period. Finally, Associated Banc Corp grew its stake in CSX by 0.6% during the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the subject of several recent research reports. Citigroup decreased their price objective on CSX from $40.00 to $39.00 and set a “buy” 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. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, January 10th. BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Barclays dropped their target price on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given 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 target price of $37.16.

CSX Stock Performance

Shares of CSX stock opened at $32.30 on Friday. The firm’s fifty day simple moving average is $32.63 and its 200-day simple moving average is $33.77. CSX Co. has a 12 month low of $31.43 and a 12 month high of $40.12. The stock has a market capitalization of $62.29 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. As a group, equities analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. CSX’s dividend payout ratio (DPR) is currently 26.82%.

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.