Summit Global Investments Has $351,000 Stock Holdings in CSX Co. (NASDAQ:CSX)

Summit Global Investments trimmed its position in CSX Co. (NASDAQ:CSX) by 84.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,867 shares of the transportation company’s stock after selling 58,004 shares during the quarter. Summit Global Investments’ holdings in CSX were worth $351,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Diversified Trust Co lifted its position in shares of CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new stake in CSX in the 4th quarter valued at $1,084,000. Carnegie Investment Counsel lifted its holdings in CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in CSX by 6.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after purchasing an additional 41,547 shares during the period. Finally, Waycross Partners LLC increased its holdings in shares of CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after purchasing an additional 40,611 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock opened at $29.85 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 52 week low of $28.98 and a 52 week high of $37.40. The stock has a market capitalization of $56.55 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The stock has a fifty day moving average of $31.99 and a 200-day moving average of $33.31.

CSX (NASDAQ:CSX) last posted 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%. On average, sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. CSX’s dividend payout ratio is 29.05%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CSX. Raymond James restated an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price objective for the company. Stephens reaffirmed an “overweight” rating and issued a $38.00 target price on shares of CSX in a research report on Friday, January 24th. 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. Finally, Royal Bank of Canada reduced their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX 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.