Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stake in CSX Co. (NASDAQ:CSX)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of CSX Co. (NASDAQ:CSX) by 28.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,563 shares of the transportation company’s stock after selling 61,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CSX were worth $5,085,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Avior Wealth Management LLC raised its holdings in CSX by 2.5% in the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after acquiring an additional 293 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after buying an additional 306 shares during the period. J.W. Cole Advisors Inc. grew its stake in shares of CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after buying an additional 309 shares during the period. Associated Banc Corp grew its stake in shares of CSX by 0.6% in the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after buying an additional 310 shares during the period. Finally, Joel Isaacson & Co. LLC grew its stake in shares of CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after buying an additional 310 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSX. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. BMO Capital Markets lowered their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Royal Bank of Canada lowered their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, Barclays lowered their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Stock Performance

Shares of CSX stock opened at $32.09 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 52 week low of $31.43 and a 52 week high of $38.70. The stock has a market capitalization of $61.88 billion, a PE ratio of 17.93, a P/E/G ratio of 1.92 and a beta of 1.23. The firm has a 50 day moving average of $32.59 and a two-hundred day moving average of $33.74.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.62%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio (DPR) 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.