Hartford Investment Management Co. Reduces Stake in CSX Co. (NASDAQ:CSX)

Hartford Investment Management Co. trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,910 shares of the transportation company’s stock after selling 3,399 shares during the period. Hartford Investment Management Co.’s holdings in CSX were worth $4,210,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Western Wealth Management LLC raised its position in CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after acquiring an additional 295 shares in the last quarter. TriaGen Wealth Management LLC raised its position in shares of CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after acquiring an additional 300 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of CSX by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after acquiring an additional 303 shares in the last quarter. Team Hewins LLC grew its position in shares of CSX by 1.7% during the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after acquiring an additional 306 shares during the period. Finally, Jamison Private Wealth Management Inc. raised its holdings in CSX by 33.7% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after purchasing an additional 316 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock opened at $33.59 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $34.04 and a 200 day moving average price of $33.90. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The stock has a market cap of $65.67 billion, a P/E ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 earnings per share. Sell-side analysts anticipate that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 26.37%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CSX shares. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Monday, July 8th. Stephens decreased their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus cut their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Royal Bank of Canada decreased their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $38.61.

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.