CSX Co. (NASDAQ:CSX) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. reduced its position in CSX Co. (NASDAQ:CSX - Free Report) by 28.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 207,855 shares of the transportation company's stock after selling 81,644 shares during the period. iA Global Asset Management Inc.'s holdings in CSX were worth $6,707,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Avior Wealth Management LLC raised its stake in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company's stock worth $407,000 after acquiring an additional 293 shares during the period. Rehmann Capital Advisory Group boosted its stake in shares of CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company's stock worth $830,000 after acquiring an additional 306 shares during the period. Associated Banc Corp boosted its stake in shares of CSX by 0.6% in the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company's stock worth $1,918,000 after acquiring an additional 310 shares during the period. Joel Isaacson & Co. LLC boosted its position in shares of CSX by 2.4% during the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock worth $421,000 after acquiring an additional 310 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its position in shares of CSX by 1.0% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company's stock valued at $1,027,000 after purchasing an additional 313 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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CSX Trading Down 1.1 %

CSX stock traded down $0.32 during mid-day trading on Tuesday, hitting $29.53. 10,843,082 shares of the company were exchanged, compared to its average volume of 11,743,453. CSX Co. has a 12-month low of $28.98 and a 12-month high of $37.40. The firm has a market capitalization of $55.95 billion, a P/E ratio of 16.50, a PEG ratio of 1.92 and a beta of 1.25. The business has a fifty day simple moving average of $31.99 and a 200-day simple moving average of $33.31. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX - Get Free Report) last posted its 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%. On average, equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.13 dividend. This is a boost 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 yield of 1.76%. CSX's dividend payout ratio (DPR) is 29.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CSX shares. Benchmark restated a "buy" rating and issued a $38.00 target price on shares of CSX in a report on Monday, January 27th. BMO Capital Markets decreased their target price on CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Robert W. Baird decreased their target price on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Finally, Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and decreased their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

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.