Vinva Investment Management Ltd Sells 53,936 Shares of CSX Co. (NASDAQ:CSX)

Vinva Investment Management Ltd trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 60.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,995 shares of the transportation company’s stock after selling 53,936 shares during the quarter. Vinva Investment Management Ltd’s holdings in CSX were worth $1,125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pathstone Holdings LLC increased its stake in shares of CSX by 4.9% during the third quarter. Pathstone Holdings LLC now owns 282,471 shares of the transportation company’s stock valued at $9,754,000 after buying an additional 13,299 shares during the period. Caprock Group LLC increased its stake in shares of CSX by 2.4% during the third quarter. Caprock Group LLC now owns 36,560 shares of the transportation company’s stock valued at $1,262,000 after buying an additional 861 shares during the period. Prospera Financial Services Inc increased its stake in shares of CSX by 3.6% during the third quarter. Prospera Financial Services Inc now owns 41,300 shares of the transportation company’s stock valued at $1,427,000 after buying an additional 1,423 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of CSX during the third quarter valued at $3,610,000. Finally, Avior Wealth Management LLC increased its stake in shares of CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after buying an additional 293 shares during the period. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of CSX stock opened at $29.98 on Friday. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $38.03. The firm has a market capitalization of $56.80 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock’s 50-day simple moving average is $32.07 and its 200-day simple moving average is $33.39.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS 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, equities analysts forecast 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 dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. CSX’s payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CSX shares. Stephens restated an “overweight” rating and set a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Robert W. Baird cut their target price on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Susquehanna cut their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Finally, Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.