Maj Invest Holding A S Sells 1,182,235 Shares of CSX Co. (NASDAQ:CSX)

Maj Invest Holding A S decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 14.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,200,998 shares of the transportation company’s stock after selling 1,182,235 shares during the quarter. CSX comprises about 7.3% of Maj Invest Holding A S’s holdings, making the stock its 4th biggest position. Maj Invest Holding A S’s holdings in CSX were worth $249,658,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CSX. Fortitude Family Office LLC purchased a new position in CSX during the fourth quarter worth approximately $27,000. Life Planning Partners Inc acquired a new position in shares of CSX during the 4th quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX in the fourth quarter valued at about $34,000. Venturi Wealth Management LLC increased its position in CSX by 228.4% during the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after purchasing an additional 692 shares during the last quarter. Finally, Avion Wealth raised its stake in 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 purchasing an additional 820 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CSX shares. Royal Bank of Canada dropped their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. UBS Group decreased their price target on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. TD Cowen boosted their price objective on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Stifel Nicolaus increased their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Bank of America decreased their price objective 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. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

CSX Price Performance

CSX stock opened at $33.41 on Tuesday. The business has a 50 day moving average price of $35.33 and a 200 day moving average price of $34.91. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The stock has a market cap of $65.31 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.01 and a beta of 1.19. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last issued 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. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts anticipate that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s dividend payout ratio (DPR) is presently 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.