PGGM Investments Has $1.89 Million Stake in CSX Co. (NASDAQ:CSX)

PGGM Investments trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 24.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,638 shares of the transportation company’s stock after selling 18,045 shares during the period. PGGM Investments’ holdings in CSX were worth $1,894,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in CSX during the fourth quarter worth about $27,000. Life Planning Partners Inc bought a new position in CSX in the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC boosted its position in CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after buying an additional 692 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the fourth quarter valued at approximately $34,000. Finally, Avion Wealth grew its stake in shares of CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after buying an additional 820 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of a number of research reports. Jefferies Financial Group decreased their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Bank of America cut their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, TD Cowen lifted their price target on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Five 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

CSX Price Performance

CSX stock opened at $33.99 on Monday. The firm has a market cap of $66.45 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.04 and a beta of 1.18. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company’s fifty day simple moving average is $36.61 and its 200 day simple moving average is $34.51.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, analysts expect that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is currently 26.37%.

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.