Clark Capital Management Group Inc. Sells 83,116 Shares of CSX Co. (NASDAQ:CSX)

Clark Capital Management Group Inc. lessened its position in CSX Co. (NASDAQ:CSX - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,729,769 shares of the transportation company's stock after selling 83,116 shares during the period. Clark Capital Management Group Inc. owned about 0.09% of CSX worth $55,820,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Deutsche Bank AG lifted its position in CSX by 6.2% during the fourth quarter. Deutsche Bank AG now owns 8,087,257 shares of the transportation company's stock worth $260,976,000 after acquiring an additional 473,476 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of CSX by 5.9% in the fourth quarter. EP Wealth Advisors LLC now owns 131,303 shares of the transportation company's stock valued at $4,237,000 after acquiring an additional 7,267 shares during the period. Corvex Management LP grew its stake in shares of CSX by 69.0% in the fourth quarter. Corvex Management LP now owns 1,753,068 shares of the transportation company's stock valued at $56,572,000 after acquiring an additional 715,800 shares in the last quarter. Covenant Partners LLC raised its stake in CSX by 90.5% in the 4th quarter. Covenant Partners LLC now owns 16,925 shares of the transportation company's stock worth $546,000 after purchasing an additional 8,039 shares in the last quarter. Finally, Crestline Management LP acquired a new position in shares of CSX during the 4th quarter worth approximately $7,613,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 1.1%

NASDAQ CSX traded up $0.34 on Tuesday, hitting $30.65. 9,360,737 shares of the company were exchanged, compared to its average volume of 12,744,799. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market cap of $57.58 billion, a PE ratio of 17.12, a PEG ratio of 1.92 and a beta of 1.22. The stock has a fifty day moving average of $28.77 and a 200-day moving average of $31.82. CSX Co. has a 12 month low of $26.22 and a 12 month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, May 30th. CSX's payout ratio is 31.14%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of analyst reports. Argus set a $32.00 price target on shares of CSX in a research report on Friday, April 25th. Citigroup cut their target price on CSX from $39.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Loop Capital lowered CSX from a "buy" rating to a "hold" rating and reduced their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Robert W. Baird cut their price objective on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Finally, Susquehanna decreased their target price on shares of CSX from $37.00 to $35.00 and set a "positive" rating on the stock in a report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.90.

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.