Intact Investment Management Inc. Decreases Stake in CSX Co. (NASDAQ:CSX)

Intact Investment Management Inc. reduced its stake in CSX Co. (NASDAQ:CSX) by 27.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,500 shares of the transportation company’s stock after selling 39,300 shares during the period. Intact Investment Management Inc.’s holdings in CSX were worth $3,554,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CSX. Fortitude Family Office LLC purchased a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC grew its stake in CSX by 228.4% in 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 period. Finally, Avion Wealth grew its stake in CSX by 450.5% in 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 owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CSX shares. Susquehanna upped their price target on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Royal Bank of Canada reduced their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, April 18th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Raymond James boosted their target price on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.00.

CSX Price Performance

CSX stock traded down $0.04 during midday trading on Friday, reaching $33.99. 10,661,945 shares of the stock traded hands, compared to its average volume of 13,982,926. The stock’s fifty day moving average is $36.61 and its 200-day moving average is $34.49. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The stock has a market cap of $66.45 billion, a P/E 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 (NASDAQ:CSX) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company earned $0.48 EPS. As a group, equities research analysts anticipate that CSX Co. will post 1.95 EPS 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 paid a $0.12 dividend. 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. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.