CSX Co. (NASDAQ:CSX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its position in shares of CSX Co. (NASDAQ:CSX) by 20.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,330,863 shares of the transportation company’s stock after selling 4,478,478 shares during the period. Legal & General Group Plc owned 0.90% of CSX worth $559,267,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. purchased a new position in CSX during the third quarter valued at $211,000. Quadrature Capital Ltd acquired a new stake in CSX in the 3rd quarter worth about $600,000. Wellington Management Group LLP increased its stake in CSX by 6.3% during the 3rd quarter. Wellington Management Group LLP now owns 102,550 shares of the transportation company’s stock worth $3,541,000 after buying an additional 6,055 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in CSX by 34.5% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 114,042 shares of the transportation company’s stock valued at $3,938,000 after purchasing an additional 29,238 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its position in shares of CSX by 167.5% in the third quarter. EP Wealth Advisors LLC now owns 124,036 shares of the transportation company’s stock valued at $4,283,000 after buying an additional 77,663 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CSX shares. Royal Bank of Canada dropped their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CSX Stock Performance

NASDAQ CSX opened at $27.09 on Tuesday. The company has a market cap of $51.06 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a 50-day moving average of $31.19 and a two-hundred day moving average of $32.97.

CSX (NASDAQ:CSX) last announced its 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, analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.92%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio is presently 29.05%.

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.