Resolution Capital Ltd Decreases Position in CSX Co. (NASDAQ:CSX)

Resolution Capital Ltd lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,645 shares of the transportation company’s stock after selling 9,254 shares during the quarter. Resolution Capital Ltd’s holdings in CSX were worth $3,861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CSX. Wellington Management Group LLP increased its position in shares of CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after purchasing an additional 15,029 shares during the last quarter. Marshall Financial Group LLC purchased a new stake in shares of CSX during the 4th quarter worth $1,084,000. Carnegie Investment Counsel grew its stake in shares of CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after purchasing an additional 8,474 shares in the last quarter. Waycross Partners LLC increased its holdings in CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after buying an additional 40,611 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in CSX by 1.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,061,143 shares of the transportation company’s stock valued at $34,243,000 after buying an additional 20,073 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 1.6%

CSX stock opened at $31.03 on Thursday. The stock has a 50 day moving average of $28.76 and a two-hundred day moving average of $31.81. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. The stock has a market capitalization of $58.29 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.92 and a beta of 1.22. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, research analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company 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 $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.68%. CSX’s payout ratio is currently 31.14%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. BMO Capital Markets dropped their price target on shares of CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Robert W. Baird cut their price objective 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. Finally, Benchmark restated a “buy” rating and issued a $35.00 target price on shares of CSX in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $33.90.

CSX 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.