Aspen Investment Management Inc Trims Stock Holdings in CSX Co. (NASDAQ:CSX)

Aspen Investment Management Inc lowered its stake in CSX Co. (NASDAQ:CSX) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,737 shares of the transportation company’s stock after selling 6,971 shares during the quarter. Aspen Investment Management Inc’s holdings in CSX were worth $1,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Boston Financial Mangement LLC lifted its stake in shares of CSX by 41.9% during the 4th quarter. Boston Financial Mangement LLC now owns 36,346 shares of the transportation company’s stock valued at $1,173,000 after buying an additional 10,734 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in CSX by 8.1% during the fourth quarter. Concurrent Investment Advisors LLC now owns 44,081 shares of the transportation company’s stock valued at $1,422,000 after acquiring an additional 3,314 shares during the period. Handelsbanken Fonder AB lifted its position in shares of CSX by 8.2% in the fourth quarter. Handelsbanken Fonder AB now owns 1,098,942 shares of the transportation company’s stock valued at $35,463,000 after acquiring an additional 83,102 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of CSX by 45.9% in the fourth quarter. Private Advisor Group LLC now owns 167,552 shares of the transportation company’s stock worth $5,407,000 after acquiring an additional 52,714 shares during the period. Finally, Alberta Investment Management Corp grew its position in shares of CSX by 36.0% during the fourth quarter. Alberta Investment Management Corp now owns 342,026 shares of the transportation company’s stock worth $11,037,000 after purchasing an additional 90,464 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CSX shares. Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of CSX in a report on Friday, January 24th. BMO Capital Markets cut their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Barclays dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Stock Performance

Shares of CSX opened at $32.46 on Friday. 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 firm has a market cap of $62.60 billion, a PE ratio of 18.13, a P/E/G ratio of 1.99 and a beta of 1.23. CSX Co. has a 12 month low of $31.43 and a 12 month high of $40.12. The stock has a fifty day moving average price of $32.65 and a 200-day moving average price of $33.77.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. Equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 26.82%.

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.