Livforsakringsbolaget Skandia Omsesidigt Lowers Position in CSX Co. (NASDAQ:CSX)

Livforsakringsbolaget Skandia Omsesidigt cut its stake in CSX Co. (NASDAQ:CSX) by 62.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,353 shares of the transportation company’s stock after selling 10,642 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in CSX were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CSX. Fortitude Family Office LLC purchased a new stake in CSX in the fourth quarter worth about $27,000. Life Planning Partners Inc purchased a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Fortis Capital Advisors LLC purchased a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC lifted its holdings in shares of CSX by 228.4% during the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 692 shares during the last quarter. Finally, Janiczek Wealth Management LLC lifted its holdings in shares of CSX by 897.2% during the third quarter. Janiczek Wealth Management LLC now owns 1,067 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 960 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSX has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 target price on shares of CSX in a report on Thursday, January 25th. Stifel Nicolaus boosted their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. TD Cowen boosted their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Bank of America decreased their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $37.33.

CSX Stock Performance

Shares of CSX stock traded up $0.61 during mid-day trading on Thursday, reaching $34.77. 4,763,313 shares of the company’s stock traded hands, compared to its average volume of 11,803,426. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The firm has a 50 day moving average price of $36.98 and a two-hundred day moving average price of $34.32. 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 firm has a market capitalization of $68.07 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts forecast that CSX Co. will post 1.97 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. This is an increase from CSX’s previous quarterly dividend of $0.11. 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 1.38%. CSX’s payout ratio is presently 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.