Hartford Investment Management Co. Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Hartford Investment Management Co. trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,061 shares of the transportation company’s stock after selling 2,849 shares during the period. Hartford Investment Management Co.’s holdings in CSX were worth $3,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Perpetual Ltd purchased a new position in shares of CSX in the 4th quarter valued at $83,301,000. Assenagon Asset Management S.A. boosted its stake in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after acquiring an additional 2,489,329 shares in the last quarter. FMR LLC grew its holdings in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. KBC Group NV increased its position in shares of CSX by 616.4% during the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after purchasing an additional 958,957 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after purchasing an additional 857,302 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research reports. Jefferies Financial Group upgraded 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. Benchmark restated a “buy” rating and set a $38.00 target price on shares of CSX in a research report on Monday, January 27th. BMO Capital Markets reduced 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. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Susquehanna dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Trading Down 0.6 %

Shares of CSX stock opened at $32.92 on Thursday. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The business’s fifty day moving average price is $32.82 and its 200 day moving average price is $33.84. The firm has a market capitalization of $63.48 billion, a PE ratio of 18.39, a P/E/G ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, sell-side analysts forecast that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 26.82%.

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.