CSX Co. (NASDAQ:CSX) Position Reduced by Jacobs & Co. CA

Jacobs & Co. CA cut its position in shares of CSX Co. (NASDAQ:CSX) by 1.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 358,035 shares of the transportation company’s stock after selling 4,288 shares during the period. CSX comprises 1.4% of Jacobs & Co. CA’s holdings, making the stock its 24th largest position. Jacobs & Co. CA’s holdings in CSX were worth $12,413,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CSX. Soroban Capital Partners LP lifted its position in shares of CSX by 0.8% in the fourth quarter. Soroban Capital Partners LP now owns 58,100,864 shares of the transportation company’s stock worth $1,799,965,000 after purchasing an additional 470,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CSX by 1.8% in the first quarter. Geode Capital Management LLC now owns 39,236,265 shares of the transportation company’s stock worth $1,172,727,000 after purchasing an additional 690,267 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares in the last quarter. Morgan Stanley increased its holdings in CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after buying an additional 739,411 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its holdings in CSX by 101,926.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after buying an additional 23,300,381 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. BMO Capital Markets raised their target price on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus reduced their target price on CSX from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Benchmark reissued a “buy” rating and set a $38.00 price objective on shares of CSX in a report on Thursday, January 25th. Finally, Raymond James lifted their price objective on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.24.

CSX Stock Up 2.0 %

CSX opened at $36.84 on Thursday. CSX Co. has a 1-year low of $28.73 and a 1-year high of $40.12. The stock’s fifty day simple moving average is $36.84 and its 200 day simple moving average is $33.76. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The stock has a market cap of $72.12 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.09 and a beta of 1.18.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. As a group, research analysts expect that CSX Co. will post 1.96 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio is 26.09%.

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.