Brown Brothers Harriman & Co. Sells 8,055 Shares of CSX Co. (NASDAQ:CSX)

Brown Brothers Harriman & Co. lessened its position in shares of CSX Co. (NASDAQ:CSX) by 31.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,168 shares of the transportation company’s stock after selling 8,055 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in CSX were worth $554,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group boosted its position in shares of CSX by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after purchasing an additional 306 shares in the last quarter. Joel Isaacson & Co. LLC boosted its holdings in shares of CSX by 2.4% during the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after buying an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of CSX by 1.0% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after buying an additional 313 shares in the last quarter. West Branch Capital LLC grew its position in shares of CSX by 3.3% during the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock worth $333,000 after buying an additional 332 shares during the period. Finally, Alhambra Investment Management LLC increased its stake in shares of CSX by 4.3% in the 4th quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company’s stock valued at $268,000 after acquiring an additional 342 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $29.11 on Monday. The stock has a market cap of $54.86 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. 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 company’s 50 day moving average price is $31.75 and its two-hundred day moving average price is $33.20. CSX Co. has a 52 week low of $28.98 and a 52 week high of $37.10.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. On average, equities analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

Analysts Set New Price Targets

A number of research firms have commented on CSX. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 price target for the company. Stephens restated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Wells Fargo & Company dropped their price target on CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. Loop Capital cut 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 note on Monday, February 3rd. Finally, Royal Bank of Canada lowered their target price on CSX from $34.00 to $33.00 and set a “sector perform” 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 data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

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.