CSX Co. (NASDAQ:CSX) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 70.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,183,470 shares of the transportation company’s stock after selling 2,842,445 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in CSX were worth $38,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in CSX during the 4th quarter valued at $31,000. Sierra Ocean LLC acquired a new stake in shares of CSX in the 4th quarter valued at $33,000. Center for Financial Planning Inc. lifted its position in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares during the last quarter. Atala Financial Inc bought a new stake in CSX during the fourth quarter worth approximately $36,000. Finally, Millstone Evans Group LLC acquired a new position in CSX in the 4th quarter valued at $37,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX opened at $29.11 on Friday. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.10. The stock’s fifty day moving average price is $31.75 and its two-hundred day moving average price is $33.20. The firm has a market cap of $54.86 billion, a PE ratio of 16.26, a PEG ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities research analysts forecast 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. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.79%. CSX’s payout ratio is presently 29.05%.

Analyst Ratings Changes

Several research firms have issued reports on CSX. Robert W. Baird dropped their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company decreased their price objective on CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Citigroup decreased their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company 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. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $36.75.

CSX Company 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.