CSX Co. (NASDAQ:CSX) Stake Lessened by TCW Group Inc.

TCW Group Inc. lessened its stake in CSX Co. (NASDAQ:CSX) by 45.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,076 shares of the transportation company’s stock after selling 22,149 shares during the period. TCW Group Inc.’s holdings in CSX were worth $874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Trust Co increased its stake 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 worth $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new stake in CSX during the fourth quarter valued at $1,084,000. Thrivent Financial for Lutherans increased its stake in CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after purchasing an additional 24,430 shares during the last quarter. Carnegie Investment Counsel increased its stake in CSX by 1.4% during the fourth 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. Finally, Principal Financial Group Inc. increased its stake in CSX by 3.4% during the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after purchasing an additional 77,488 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX opened at $31.81 on Tuesday. CSX Co. has a twelve month low of $31.43 and a twelve month high of $38.70. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $61.34 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.92 and a beta of 1.23. The firm has a 50-day moving average of $32.61 and a two-hundred day moving average of $33.75.

CSX (NASDAQ:CSX) last issued its quarterly 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%. As a group, analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.63%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

Analyst Ratings Changes

Several research firms have weighed in on CSX. Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Citigroup lowered their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada lowered their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, January 10th. Finally, BMO Capital Markets reduced their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.16.

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.