Prudential PLC Reduces Holdings in CSX Co. (NASDAQ:CSX)

Prudential PLC reduced its position in CSX Co. (NASDAQ:CSX) by 13.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 265,890 shares of the transportation company’s stock after selling 40,034 shares during the period. Prudential PLC’s holdings in CSX were worth $8,580,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CSX. Rehmann Capital Advisory Group boosted its holdings in shares of CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after acquiring an additional 306 shares during the period. Joel Isaacson & Co. LLC boosted its stake in CSX by 2.4% during the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after purchasing an additional 310 shares during the period. Patrick M Sweeney & Associates Inc. boosted its stake in CSX by 1.0% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after purchasing an additional 313 shares during the period. West Branch Capital LLC increased its stake in CSX by 3.3% in the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock valued at $333,000 after purchasing an additional 332 shares during the period. Finally, Alhambra Investment Management LLC raised its holdings in shares of CSX by 4.3% in the fourth quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company’s stock valued at $268,000 after buying an additional 342 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on CSX shares. Royal Bank of Canada dropped their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. UBS Group dropped their target price on CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird decreased their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. BMO Capital Markets dropped their price objective 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. Finally, Benchmark restated a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CSX Trading Down 2.8 %

Shares of CSX opened at $27.21 on Friday. The stock’s 50-day moving average is $31.32 and its two-hundred day moving average is $33.04. The stock has a market cap of $51.28 billion, a PE ratio of 15.20, a P/E/G ratio of 1.92 and a beta of 1.22. 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 12 month low of $26.95 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal 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 paid a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio is presently 29.05%.

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.