University of Texas Texas AM Investment Management Co. Cuts Stock Position in CSX Co. (NASDAQ:CSX)

University of Texas Texas AM Investment Management Co. trimmed its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 47.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,672 shares of the transportation company's stock after selling 68,213 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in CSX were worth $2,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of CSX in the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new stake in CSX during the 4th quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new stake in CSX during the fourth quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new stake in CSX during the fourth quarter valued at $31,000. Finally, Sierra Ocean LLC purchased a new stake in CSX in the 4th quarter worth $33,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CSX shares. Loop Capital lowered 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 report on Monday, February 3rd. Wells Fargo & Company reduced their price target on CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Royal Bank of Canada cut their price objective on shares of CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a research report on Thursday, April 17th. Argus set a $32.00 target price on shares of CSX in a report on Friday, April 25th. Finally, Susquehanna cut their price objective on CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.90.

CSX Stock Performance

Shares of CSX stock traded up $0.06 during mid-day trading on Wednesday, hitting $31.49. 5,358,120 shares of the stock were exchanged, compared to its average volume of 12,935,563. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock has a market capitalization of $59.15 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 1.92 and a beta of 1.22. The stock's fifty day simple moving average is $28.95 and its two-hundred day simple moving average is $31.58.

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

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, May 30th. CSX's payout ratio is currently 31.14%.

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.