Royal London Asset Management Ltd. Cuts Position in CSX Co. (NASDAQ:CSX)

Royal London Asset Management Ltd. trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,068,591 shares of the transportation company’s stock after selling 3,767 shares during the period. Royal London Asset Management Ltd.’s holdings in CSX were worth $34,483,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of CSX during the fourth quarter worth approximately $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX during the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. increased its stake 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 buying an additional 720 shares during the period. Atala Financial Inc purchased a new stake in shares of CSX during the fourth quarter worth approximately $36,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of CSX during the fourth quarter worth approximately $39,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on CSX shares. BMO Capital Markets dropped their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Barclays dropped 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. Raymond James reiterated an “outperform” rating and issued a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Robert W. Baird dropped their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Royal Bank of Canada dropped 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. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Price Performance

Shares of NASDAQ CSX opened at $29.98 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a fifty day moving average price of $32.07 and a 200 day moving average price of $33.39. CSX Co. has a 1-year low of $28.98 and a 1-year high of $38.03. The company has a market cap of $56.80 billion, a PE ratio of 16.75, a P/E/G ratio of 1.92 and a beta of 1.25.

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 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%. Sell-side 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. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is presently 29.05%.

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.