CSX Co. (NASDAQ:CSX) Stock Position Lowered by Voloridge Investment Management LLC

Voloridge Investment Management LLC trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 64.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,428,788 shares of the transportation company’s stock after selling 2,559,581 shares during the period. Voloridge Investment Management LLC’s holdings in CSX were worth $46,107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of CSX in the fourth quarter worth approximately $780,194,000. Ameriprise Financial Inc. increased its stake in CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock valued at $673,025,000 after buying an additional 9,863,587 shares during the period. Bank of New York Mellon Corp increased its stake in CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in CSX by 471.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after buying an additional 5,568,624 shares in the last quarter. Finally, Fiduciary Management Inc. WI acquired a new stake in shares of CSX during the 4th quarter valued at $178,259,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 17th. Stephens restated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Jefferies Financial Group cut their price target on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Barclays lowered their price target on CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, BMO Capital Markets cut their price objective on shares of CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.90.

CSX Stock Performance

NASDAQ:CSX opened at $31.23 on Wednesday. The firm has a market capitalization of $58.67 billion, a PE ratio of 17.45, a PEG ratio of 1.92 and a beta of 1.22. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm’s fifty day simple moving average is $28.88 and its 200 day simple moving average is $31.73.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, sell-side analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.67%. CSX’s dividend payout ratio is presently 31.14%.

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.