AGF Management Ltd. Sells 11,988 Shares of CSX Co. (NASDAQ:CSX)

AGF Management Ltd. reduced its stake in CSX Co. (NASDAQ:CSX) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,147 shares of the transportation company’s stock after selling 11,988 shares during the period. AGF Management Ltd.’s holdings in CSX were worth $3,554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in shares of CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after buying an additional 293 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of CSX by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after buying an additional 306 shares during the last quarter. Associated Banc Corp grew its holdings in shares of CSX by 0.6% during the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after buying an additional 310 shares during the last quarter. Joel Isaacson & Co. LLC grew its holdings in shares of CSX by 2.4% during the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after buying an additional 310 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its holdings in shares of CSX by 1.0% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after buying an additional 313 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

NASDAQ CSX opened at $29.55 on Thursday. The company’s 50 day moving average is $32.34 and its 200-day moving average is $33.55. CSX Co. has a 12-month low of $29.29 and a 12-month high of $38.03. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a market cap of $55.99 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced 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. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSX. Royal Bank of Canada reduced their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Barclays cut their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Robert W. Baird cut their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.