CSX Co. (NASDAQ:CSX) Shares Sold by Gibraltar Capital Management Inc.

Gibraltar Capital Management Inc. trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 19.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,683 shares of the transportation company’s stock after selling 8,750 shares during the period. Gibraltar Capital Management Inc.’s holdings in CSX were worth $1,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC increased its holdings in CSX by 10.4% in the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after purchasing an additional 2,748,738 shares in the last quarter. Morgan Stanley increased its holdings in CSX by 3.1% in the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after purchasing an additional 739,411 shares in the last quarter. Northern Trust Corp increased its holdings in CSX by 1.4% in the 3rd quarter. Northern Trust Corp now owns 21,307,242 shares of the transportation company’s stock valued at $655,198,000 after purchasing an additional 303,684 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CSX by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,082,663 shares of the transportation company’s stock valued at $340,792,000 after purchasing an additional 56,856 shares in the last quarter. Finally, Maj Invest Holding A S grew its stake in shares of CSX by 19.8% during the third quarter. Maj Invest Holding A S now owns 8,383,233 shares of the transportation company’s stock valued at $257,785,000 after acquiring an additional 1,383,086 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CSX. Jefferies Financial Group lowered their target price on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Stifel Nicolaus raised their target price on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Benchmark restated a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. TD Cowen raised their target price on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Finally, BMO Capital Markets raised their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Stock Performance

NASDAQ CSX traded down $0.73 during trading hours on Tuesday, reaching $33.22. The company’s stock had a trading volume of 17,483,721 shares, compared to its average volume of 12,415,493. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The business has a 50-day simple moving average of $36.48 and a 200 day simple moving average of $34.54. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The stock has a market cap of $64.94 billion, a PE ratio of 18.25, a PEG ratio of 2.04 and a beta of 1.18.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company posted $0.48 earnings per share. CSX’s revenue was down .8% on a year-over-year basis. Equities research analysts predict that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.