QRG Capital Management Inc. Sells 28,727 Shares of CSX Co. (NASDAQ:CSX)

QRG Capital Management Inc. cut its stake in shares of CSX Co. (NASDAQ:CSX) by 10.1% during the 4th quarter, HoldingsChannel reports. The firm owned 256,174 shares of the transportation company’s stock after selling 28,727 shares during the period. QRG Capital Management Inc.’s holdings in CSX were worth $8,267,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CSX. Avior Wealth Management LLC lifted its stake in shares of CSX by 2.5% in 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 in the last quarter. Rehmann Capital Advisory Group increased its position 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 worth $830,000 after acquiring an additional 306 shares in the last quarter. Associated Banc Corp raised its holdings in shares of CSX by 0.6% in the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after acquiring an additional 310 shares during the last quarter. Joel Isaacson & Co. LLC lifted its position in CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after acquiring an additional 310 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in CSX by 1.0% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after purchasing an additional 313 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Barclays lowered their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of CSX in a report on Friday, January 24th. BMO Capital Markets lowered their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, 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. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Up 0.1 %

CSX opened at $32.01 on Friday. CSX Co. has a 12 month low of $31.43 and a 12 month high of $38.61. The company has a market cap of $61.73 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. 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 company has a 50 day moving average of $32.60 and a 200 day moving average of $33.71.

CSX (NASDAQ:CSX) last posted its quarterly 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%. On average, sell-side analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 1.62%. 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 payout ratio is presently 29.05%.

About CSX

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.