Flputnam Investment Management Co. Sells 1,076 Shares of CSX Co. (NASDAQ:CSX)

Flputnam Investment Management Co. decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,936 shares of the transportation company’s stock after selling 1,076 shares during the quarter. Flputnam Investment Management Co.’s holdings in CSX were worth $552,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Legacy CG LLC grew its position in CSX by 0.4% in the 4th quarter. Legacy CG LLC now owns 104,637 shares of the transportation company’s stock worth $3,628,000 after purchasing an additional 439 shares during the last quarter. Keel Point LLC acquired a new stake in CSX during the fourth quarter worth about $206,000. Bourgeon Capital Management LLC grew its position in CSX by 11,939.3% during the fourth quarter. Bourgeon Capital Management LLC now owns 210,929 shares of the transportation company’s stock worth $7,313,000 after buying an additional 209,177 shares in the last quarter. Cullen Investment Group LTD. bought a new position in CSX during the fourth quarter valued at about $1,310,000. Finally, Cornercap Investment Counsel Inc. raised its holdings in CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after acquiring an additional 309 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $34.16 on Thursday. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The stock has a market capitalization of $66.87 billion, a PE ratio of 18.57, a PEG ratio of 2.03 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. The stock’s fifty day moving average is $36.98 and its 200-day moving average is $34.32.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. Equities research analysts expect that CSX Co. will post 1.97 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is currently 26.09%.

Analyst Ratings Changes

CSX has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. TD Cowen boosted their price target on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price objective on shares of CSX in a report on Thursday, January 25th. StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Susquehanna increased their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research report on Thursday, March 28th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.28.

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.