QRG Capital Management Inc. Sells 28,727 Shares of CSX Co. (NASDAQ:CSX)

QRG Capital Management Inc. lessened its position in CSX Co. (NASDAQ:CSX) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,174 shares of the transportation company’s stock after selling 28,727 shares during the period. QRG Capital Management Inc.’s holdings in CSX were worth $8,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSX. Versor Investments LP grew its holdings in CSX by 78.2% during the fourth quarter. Versor Investments LP now owns 38,259 shares of the transportation company’s stock worth $1,235,000 after purchasing an additional 16,787 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of CSX by 3,802.3% during the 4th quarter. Proficio Capital Partners LLC now owns 589,164 shares of the transportation company’s stock worth $19,012,000 after acquiring an additional 574,066 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of CSX by 15.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 222,661 shares of the transportation company’s stock worth $7,185,000 after acquiring an additional 30,227 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of CSX by 5.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 239,407 shares of the transportation company’s stock worth $7,726,000 after acquiring an additional 12,458 shares during the last quarter. Finally, Nwam LLC raised its stake in CSX by 2.6% in the 4th quarter. Nwam LLC now owns 17,236 shares of the transportation company’s stock valued at $556,000 after acquiring an additional 429 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.1 %

CSX stock opened at $32.01 on Friday. CSX Co. has a 52 week low of $31.43 and a 52 week high of $38.61. The business has a 50-day simple moving average of $32.60 and a 200 day simple moving average of $33.71. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a market cap of $61.73 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.62%. CSX’s dividend payout ratio is presently 29.05%.

Analyst Ratings Changes

A number of research firms have commented on CSX. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $38.00 target price on shares of CSX in a report on Friday, January 24th. Royal Bank of Canada lowered their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. BMO Capital Markets reduced their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Wells Fargo & Company lowered their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.16.

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.