Royal London Asset Management Ltd. Cuts Stock Position in CSX Co. (NASDAQ:CSX)

Royal London Asset Management Ltd. lessened its stake in CSX Co. (NASDAQ:CSX) by 0.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,068,591 shares of the transportation company’s stock after selling 3,767 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.06% of CSX worth $34,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. Pathstone Holdings LLC grew its holdings in shares of CSX by 4.9% during the third quarter. Pathstone Holdings LLC now owns 282,471 shares of the transportation company’s stock worth $9,754,000 after buying an additional 13,299 shares in the last quarter. Caprock Group LLC grew its holdings in shares of CSX by 2.4% during the third quarter. Caprock Group LLC now owns 36,560 shares of the transportation company’s stock worth $1,262,000 after buying an additional 861 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of CSX by 3.6% during the third quarter. Prospera Financial Services Inc now owns 41,300 shares of the transportation company’s stock worth $1,427,000 after buying an additional 1,423 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of CSX during the third quarter worth $3,610,000. Finally, Avior Wealth Management LLC grew its holdings in shares of CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after buying an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the subject of a number of research reports. Robert W. Baird dropped their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Barclays lowered their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Royal Bank of Canada lowered their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Finally, Citigroup lowered their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.00.

CSX Stock Down 0.3 %

Shares of CSX opened at $29.98 on Friday. The stock has a market capitalization of $56.80 billion, a PE ratio of 16.75, a P/E/G ratio of 1.92 and a beta of 1.25. CSX Co. has a 1 year low of $28.98 and a 1 year high of $38.03. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company’s 50-day simple moving average is $32.07 and its 200-day simple moving average is $33.39.

CSX (NASDAQ:CSX) last issued its quarterly 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 return on equity of 28.15% and a net margin of 23.95%. Analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal 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 given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 29.05%.

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.