Brown Brothers Harriman & Co. Decreases Stake in CSX Co. (NASDAQ:CSX)

Brown Brothers Harriman & Co. lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 31.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 17,168 shares of the transportation company’s stock after selling 8,055 shares during the period. Brown Brothers Harriman & Co.’s holdings in CSX were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in CSX in the 4th quarter worth approximately $31,000. Sierra Ocean LLC bought a new position in shares of CSX in the fourth quarter worth $33,000. Center for Financial Planning Inc. grew its position in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 720 shares in the last quarter. Atala Financial Inc bought a new stake in shares of CSX during the 4th quarter valued at $36,000. Finally, Millstone Evans Group LLC purchased a new stake in CSX during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $29.11 on Monday. The firm has a market cap of $54.86 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. The firm’s fifty day moving average is $31.75 and its 200 day moving average is $33.20. CSX Co. has a 52 week low of $28.98 and a 52 week high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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%. Research analysts predict 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 was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.79%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is presently 29.05%.

Wall Street Analysts Forecast Growth

CSX has been the topic of several analyst reports. Citigroup decreased their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company lowered their target price on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. Robert W. Baird reduced their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Susquehanna reduced their target price on CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Thursday. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

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.