USS Investment Management Ltd Sells 48,780 Shares of CSX Co. (NASDAQ:CSX)

USS Investment Management Ltd cut its position in CSX Co. (NASDAQ:CSX - Free Report) by 10.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 431,955 shares of the transportation company's stock after selling 48,780 shares during the quarter. USS Investment Management Ltd's holdings in CSX were worth $13,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in CSX by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock worth $1,339,555,000 after acquiring an additional 726,507 shares during the period. Invesco Ltd. increased its position in shares of CSX by 13.5% in the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after purchasing an additional 2,977,212 shares during the period. Fisher Asset Management LLC raised its stake in CSX by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock valued at $805,345,000 after purchasing an additional 299,536 shares in the last quarter. Norges Bank bought a new stake in CSX during the fourth quarter worth about $780,194,000. Finally, Bank of New York Mellon Corp grew its stake in CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after buying an additional 6,730,316 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on CSX shares. Susquehanna dropped their target price on shares of CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research report on Thursday, April 17th. Royal Bank of Canada lowered 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. Wells Fargo & Company cut their target price on CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Loop Capital lowered CSX from a "buy" rating to a "hold" rating and decreased their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their price target on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $33.90.

CSX Stock Performance

CSX stock opened at $31.23 on Wednesday. The business has a 50 day moving average of $28.88 and a 200-day moving average of $31.73. The company has a market capitalization of $58.67 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.92 and a beta of 1.22. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

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

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.67%. CSX's payout ratio is 31.14%.

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.

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