Intech Investment Management LLC Has $2.96 Million Stock Position in CSX Co. (NASDAQ:CSX)

Intech Investment Management LLC cut its holdings in CSX Co. (NASDAQ:CSX) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 85,773 shares of the transportation company’s stock after selling 6,192 shares during the quarter. Intech Investment Management LLC’s holdings in CSX were worth $2,962,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Valley Wealth Managers Inc. grew its stake in shares of CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of CSX during the second quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of CSX in the 2nd quarter worth about $27,000. Fairscale Capital LLC acquired a new position in CSX during the 2nd quarter valued at about $32,000. Finally, Morton Brown Family Wealth LLC bought a new stake in CSX during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Stephens cut their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Barclays lifted their target price on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

Shares of CSX opened at $35.78 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a market capitalization of $69.00 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. CSX Co. has a 52-week low of $31.65 and a 52-week high of $40.12. The stock’s 50-day simple moving average is $34.48 and its 200 day simple moving average is $33.94.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the business posted $0.42 earnings per share. CSX’s revenue was up 1.3% compared to the same quarter last year. Research analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. CSX’s payout ratio is currently 25.81%.

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.