Rhumbline Advisers Sells 87,160 Shares of CSX Co. (NASDAQ:CSX)

Rhumbline Advisers decreased its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,479,877 shares of the transportation company's stock after selling 87,160 shares during the period. Rhumbline Advisers owned approximately 0.18% of CSX worth $112,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSX. Avior Wealth Management LLC grew its position in 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 acquiring an additional 293 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company's stock worth $595,000 after purchasing an additional 306 shares during the last quarter. Rehmann Capital Advisory Group increased its position in CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company's stock valued at $830,000 after acquiring an additional 306 shares during the period. J.W. Cole Advisors Inc. grew its position in shares of CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company's stock valued at $1,222,000 after buying an additional 309 shares during the last quarter. Finally, Associated Banc Corp boosted its holdings in CSX by 0.6% in the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company's stock valued at $1,918,000 after acquiring an additional 310 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Trading Down 3.7 %

CSX traded down $1.23 during midday trading on Wednesday, reaching $32.41. 13,729,500 shares of the company's stock traded hands, compared to its average volume of 14,157,282. The stock has a market capitalization of $62.50 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 1.97 and a beta of 1.23. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The firm has a fifty day moving average of $32.70 and a two-hundred day moving average of $33.79. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last announced 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, equities analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.60%. This is a boost from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is currently 26.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CSX shares. Citigroup lowered their target price on CSX from $40.00 to $39.00 and set a "buy" rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Robert W. Baird cut their target price on CSX from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of CSX from $36.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Finally, Susquehanna reduced their price objective on shares of CSX from $40.00 to $39.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.16.

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.