CSX Co. (NASDAQ:CSX) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd cut its stake in CSX Co. (NASDAQ:CSX) by 60.6% in the fourth quarter, HoldingsChannel reports. The fund owned 34,995 shares of the transportation company’s stock after selling 53,936 shares during the period. Vinva Investment Management Ltd’s holdings in CSX were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of CSX. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX in the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. increased its position in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares in the last quarter. Atala Financial Inc purchased a new stake in shares of CSX in the fourth quarter valued at approximately $36,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of CSX in the fourth quarter valued at approximately $39,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on CSX. Wells Fargo & Company cut their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. cut their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Robert W. Baird cut their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Finally, Raymond James reiterated an “outperform” rating and set a $37.00 price target (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $37.00.

CSX Stock Down 0.3 %

Shares of NASDAQ:CSX opened at $29.98 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The business has a fifty day moving average of $32.07 and a two-hundred day moving average of $33.39. The stock has a market cap of $56.80 billion, a P/E ratio of 16.75, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a 52-week low of $28.98 and a 52-week high of $38.03.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

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.