Primecap Management Co. CA Sells 90,800 Shares of CSX Co. (NASDAQ:CSX)

Primecap Management Co. CA trimmed its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,239,600 shares of the transportation company's stock after selling 90,800 shares during the quarter. Primecap Management Co. CA owned 0.12% of CSX worth $72,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of CSX during the fourth quarter worth $31,000. Sierra Ocean LLC acquired a new stake in shares of CSX during the fourth quarter worth $33,000. Center for Financial Planning Inc. raised its holdings in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock worth $35,000 after acquiring an additional 720 shares during the period. Atala Financial Inc acquired a new stake in shares of CSX during the fourth quarter worth $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of CSX during the fourth quarter worth $41,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Stephens restated an "overweight" rating and set a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Benchmark reiterated a "buy" rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Jefferies Financial Group upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company lowered their price target on shares of CSX from $36.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CSX has an average rating of "Moderate Buy" and an average target price of $37.00.

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CSX Stock Performance

Shares of CSX stock traded down $0.41 during midday trading on Friday, hitting $29.57. 25,368,757 shares of the company were exchanged, compared to its average volume of 11,733,693. The firm has a market capitalization of $56.02 billion, a P/E ratio of 16.52, a PEG ratio of 1.92 and a beta of 1.25. 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 firm's 50 day moving average price is $32.03 and its two-hundred day moving average price is $33.36. CSX Co. has a 52 week low of $28.98 and a 52 week high of $38.03.

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%. As a group, equities research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current 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 paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.76%. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is presently 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.