Legal & General Group Plc Sells 4,478,478 Shares of CSX Co. (NASDAQ:CSX)

Legal & General Group Plc reduced its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 20.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,330,863 shares of the transportation company's stock after selling 4,478,478 shares during the quarter. Legal & General Group Plc owned approximately 0.90% of CSX worth $559,267,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in CSX by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock valued at $1,339,555,000 after acquiring an additional 726,507 shares during the period. Invesco Ltd. increased its stake in shares of CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after purchasing an additional 2,977,212 shares during the period. Fisher Asset Management LLC increased its stake in shares of CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after purchasing an additional 299,536 shares during the period. Norges Bank acquired a new stake in CSX during the 4th quarter worth approximately $780,194,000. Finally, Bank of New York Mellon Corp boosted its stake in CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock valued at $753,507,000 after purchasing an additional 6,730,316 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

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CSX Price Performance

Shares of CSX stock traded up $0.19 on Friday, reaching $28.01. The company had a trading volume of 15,001,822 shares, compared to its average volume of 12,672,219. The business's 50-day moving average is $30.58 and its 200 day moving average is $32.71. CSX Co. has a one year low of $26.22 and a one year high of $37.10. 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 stock has a market capitalization of $52.79 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 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%. Equities research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company 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 is an increase from CSX's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.86%. CSX's dividend payout ratio (DPR) is 29.05%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CSX shares. Citigroup lowered their price objective on CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird lowered their price target on shares of CSX from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a report on Friday, March 7th. They issued a "hold" rating and a $34.00 price objective for the company. BMO Capital Markets dropped their price target on shares of CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Finally, Stephens reiterated an "overweight" rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average price target of $35.70.

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.