Voya Investment Management LLC Decreases Stake in CSX Co. (NASDAQ:CSX)

Voya Investment Management LLC lessened its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,275,118 shares of the transportation company's stock after selling 239,635 shares during the period. Voya Investment Management LLC owned 0.07% of CSX worth $41,148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Burling Wealth Partners LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $325,000. Cartenna Capital LP acquired a new stake in shares of CSX in the 4th quarter worth $88,894,000. Coppell Advisory Solutions LLC raised its holdings in shares of CSX by 31.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 3,282 shares of the transportation company's stock worth $106,000 after acquiring an additional 779 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of CSX by 45.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 301,144 shares of the transportation company's stock valued at $9,718,000 after acquiring an additional 94,468 shares during the last quarter. Finally, Alta Advisers Ltd grew its holdings in shares of CSX by 8.5% in the fourth quarter. Alta Advisers Ltd now owns 6,292 shares of the transportation company's stock valued at $203,000 after purchasing an additional 492 shares during the period. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Performance

Shares of CSX stock opened at $27.84 on Friday. The business has a 50-day simple moving average of $29.52 and a 200-day simple moving average of $32.28. The company has a market cap of $52.30 billion, a PE ratio of 15.55, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a one year low of $26.22 and a one year high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, February 28th. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is currently 31.14%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and decreased their target price for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Susquehanna lowered their price objective on CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research report on Thursday, April 17th. Citigroup reduced their target price on CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Barclays lowered their price target on CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Evercore ISI decreased their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, CSX has a consensus rating of "Moderate Buy" and a consensus price target of $33.95.

About CSX

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.

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