Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 61,700 Shares of CSX Co. (NASDAQ:CSX)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of CSX Co. (NASDAQ:CSX) by 28.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 157,563 shares of the transportation company’s stock after selling 61,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CSX were worth $5,085,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. increased its position in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the period. Sierra Ocean LLC purchased a new position in shares of CSX during the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. increased its position in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after acquiring an additional 720 shares during the period. Addison Advisors LLC increased its holdings in CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares during the period. Finally, Fortitude Family Office LLC increased its holdings in CSX by 43.4% during the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 0.9 %

NASDAQ:CSX opened at $32.09 on Wednesday. CSX Co. has a 12 month low of $31.43 and a 12 month high of $38.70. The firm has a fifty day simple moving average of $32.59 and a 200-day simple moving average of $33.74. 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 $61.88 billion, a P/E ratio of 17.93, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. On average, equities research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s payout ratio is presently 29.05%.

Analysts Set New Price Targets

CSX has been the topic of several research reports. Raymond James reissued an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Barclays cut their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. cut their price objective 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. Stephens reissued an “overweight” rating and set a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Finally, Susquehanna cut their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.16.

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.