Intech Investment Management LLC Sells 28,604 Shares of CSX Co. (NASDAQ:CSX)

Intech Investment Management LLC trimmed its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 33.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,169 shares of the transportation company's stock after selling 28,604 shares during the quarter. Intech Investment Management LLC's holdings in CSX were worth $1,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of CSX in the fourth quarter worth approximately $31,000. Sierra Ocean LLC purchased a new position in shares of CSX during the 4th quarter worth $33,000. Center for Financial Planning Inc. grew its position in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock valued at $35,000 after acquiring an additional 720 shares during the period. Atala Financial Inc bought a new stake in shares of CSX during the 4th quarter valued at $36,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of CSX in the 4th quarter worth $39,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.32 during mid-day trading on Tuesday, reaching $29.53. The stock had a trading volume of 10,843,082 shares, compared to its average volume of 11,743,453. The business's 50 day moving average price is $31.99 and its 200 day moving average price is $33.31. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.40. The company has a market cap of $55.95 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

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CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data 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%. Research analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.76%. This is a positive change from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is 29.05%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CSX. Wells Fargo & Company lowered their target price on CSX from $36.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. Benchmark reaffirmed a "buy" rating and set a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Stephens restated an "overweight" rating and set a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Finally, Citigroup dropped their price target on shares of CSX from $40.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.