Tranquility Partners LLC Lowers Position in CSX Co. (NASDAQ:CSX)

Tranquility Partners LLC cut its position in shares of CSX Co. (NASDAQ:CSX) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,498 shares of the transportation company’s stock after selling 977 shares during the quarter. Tranquility Partners LLC’s holdings in CSX were worth $500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Perpetual Ltd bought a new stake in shares of CSX in the fourth quarter valued at $83,301,000. Assenagon Asset Management S.A. grew its position in shares of CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares in the last quarter. FMR LLC grew its holdings in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares in the last quarter. KBC Group NV grew its holdings in shares of CSX by 616.4% during the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after purchasing an additional 958,957 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after purchasing an additional 857,302 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird reduced their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Barclays decreased their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Raymond James reaffirmed an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reduced their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.16.

CSX Stock Down 0.6 %

Shares of NASDAQ:CSX opened at $32.92 on Thursday. The company has a 50-day moving average price of $32.82 and a 200 day moving average price of $33.84. 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 Co. has a 12 month low of $31.43 and a 12 month high of $40.12. The company has a market cap of $63.48 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its earnings results 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 return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts predict that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.58%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 26.82%.

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.