Massachusetts Financial Services Co. MA Sells 165,426 Shares of CSX Co. (NASDAQ:CSX)

Massachusetts Financial Services Co. MA lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,552,817 shares of the transportation company’s stock after selling 165,426 shares during the period. Massachusetts Financial Services Co. MA’s holdings in CSX were worth $82,379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. bought a new position in CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new stake in shares of CSX during the fourth quarter worth $33,000. Center for Financial Planning Inc. lifted its position in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in CSX by 216.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock worth $35,000 after purchasing an additional 746 shares during the period. Finally, Atala Financial Inc bought a new position in CSX during the 4th quarter worth about $36,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ CSX opened at $27.21 on Friday. The firm has a market cap of $51.28 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The business’s 50 day moving average is $31.32 and its 200-day moving average is $33.04. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 1-year low of $26.95 and a 1-year high of $37.10.

CSX (NASDAQ:CSX) last posted its quarterly earnings data 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%. Equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CSX shares. Citigroup reduced their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Robert W. Baird decreased their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada reduced their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Finally, Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

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.