Truvestments Capital LLC Decreases Stock Holdings in CSX Co. (NASDAQ:CSX)

Truvestments Capital LLC decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,912 shares of the transportation company’s stock after selling 417 shares during the quarter. Truvestments Capital LLC’s holdings in CSX were worth $126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CSX. Los Angeles Capital Management LLC raised its stake in shares of CSX by 346.0% in the third quarter. Los Angeles Capital Management LLC now owns 43,802 shares of the transportation company’s stock valued at $1,512,000 after acquiring an additional 33,980 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of CSX in the third quarter valued at $83,000. Versor Investments LP raised its stake in shares of CSX by 30.8% in the third quarter. Versor Investments LP now owns 21,472 shares of the transportation company’s stock valued at $741,000 after acquiring an additional 5,054 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of CSX by 1.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,859,424 shares of the transportation company’s stock valued at $167,796,000 after acquiring an additional 78,990 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of CSX by 13.8% in the third quarter. Victory Capital Management Inc. now owns 1,957,688 shares of the transportation company’s stock valued at $67,599,000 after acquiring an additional 238,079 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Royal Bank of Canada reduced their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Barclays reduced their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $37.00.

CSX Stock Up 0.1 %

Shares of CSX stock opened at $29.55 on Thursday. 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 Co. has a 1 year low of $29.29 and a 1 year high of $38.03. The firm’s 50-day moving average is $32.34 and its two-hundred day moving average is $33.55. The stock has a market cap of $55.99 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released 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, research analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.13 dividend. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio (DPR) is currently 29.05%.

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.