Vestcor Inc Cuts Stake in CSX Co. (NASDAQ:CSX)

Vestcor Inc cut its position in CSX Co. (NASDAQ:CSX) by 33.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 74,719 shares of the transportation company’s stock after selling 37,083 shares during the period. Vestcor Inc’s holdings in CSX were worth $2,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of CSX by 13.8% during the third quarter. Victory Capital Management Inc. now owns 1,957,688 shares of the transportation company’s stock valued at $67,599,000 after buying an additional 238,079 shares during the last quarter. Planning Capital Management Corp lifted its stake in CSX by 16.4% during the 3rd quarter. Planning Capital Management Corp now owns 2,237 shares of the transportation company’s stock valued at $77,000 after acquiring an additional 316 shares during the period. Metis Global Partners LLC boosted its holdings in shares of CSX by 1.2% during the 3rd quarter. Metis Global Partners LLC now owns 63,455 shares of the transportation company’s stock valued at $2,191,000 after acquiring an additional 729 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of CSX by 6.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 49,306 shares of the transportation company’s stock worth $1,703,000 after acquiring an additional 2,929 shares during the period. Finally, OneDigital Investment Advisors LLC raised its holdings in shares of CSX by 0.8% during the third quarter. OneDigital Investment Advisors LLC now owns 68,011 shares of the transportation company’s stock valued at $2,348,000 after purchasing an additional 522 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSX. Benchmark restated a “buy” rating and issued a $38.00 target price on shares of CSX in a report on Monday, January 27th. Robert W. Baird dropped their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Royal Bank of Canada dropped their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Finally, Barclays lowered their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Performance

NASDAQ CSX opened at $30.01 on Friday. 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 Co. has a twelve month low of $28.98 and a twelve month high of $38.03. The business has a 50-day moving average price of $32.23 and a 200-day moving average price of $33.49. The firm has a market cap of $56.86 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

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 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%. As a group, equities research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio is currently 29.05%.

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.