Flputnam Investment Management Co. Sells 1,076 Shares of CSX Co. (NASDAQ:CSX)

Flputnam Investment Management Co. decreased its position in shares of CSX Co. (NASDAQ:CSX) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,936 shares of the transportation company’s stock after selling 1,076 shares during the period. Flputnam Investment Management Co.’s holdings in CSX were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Soroban Capital Partners LP boosted its position in CSX by 0.8% during the fourth quarter. Soroban Capital Partners LP now owns 58,100,864 shares of the transportation company’s stock valued at $1,799,965,000 after acquiring an additional 470,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CSX by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 39,236,265 shares of the transportation company’s stock worth $1,172,727,000 after buying an additional 690,267 shares in the last quarter. Lazard Asset Management LLC boosted its position in CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares during the last quarter. Morgan Stanley grew its position in CSX by 3.1% during the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after buying an additional 739,411 shares during the period. Finally, Moneta Group Investment Advisors LLC grew its holdings in CSX by 101,926.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after purchasing an additional 23,300,381 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 price objective on shares of CSX in a research note on Thursday, January 25th. Jefferies Financial Group began coverage on shares of CSX in a research note on Monday, April 8th. They set a “hold” rating and a $40.00 price target on the stock. Susquehanna raised their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, December 21st. Finally, BMO Capital Markets upped their price target on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.28.

CSX Stock Performance

NASDAQ CSX opened at $34.16 on Thursday. The stock’s fifty day moving average is $36.98 and its two-hundred day moving average is $34.32. The firm has a market capitalization of $66.87 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 2.03 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. CSX had a return on equity of 30.52% and a net margin of 25.35%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts anticipate that CSX Co. will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is presently 26.09%.

CSX Company 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.