Mercer Global Advisors Inc. ADV Sells 34,526 Shares of CSX Co. (NASDAQ:CSX)

Mercer Global Advisors Inc. ADV trimmed its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 347,164 shares of the transportation company's stock after selling 34,526 shares during the period. Mercer Global Advisors Inc. ADV's holdings in CSX were worth $11,203,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CSX. Geode Capital Management LLC grew its position 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 last quarter. Invesco Ltd. grew its holdings 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 last quarter. Fisher Asset Management LLC increased its stake in shares of CSX by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after buying an additional 299,536 shares during the period. Norges Bank bought a new stake in CSX during the 4th quarter valued at $780,194,000. Finally, Bank of New York Mellon Corp grew its holdings in CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after acquiring an additional 6,730,316 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CSX shares. Robert W. Baird dropped their target price on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, January 24th. BMO Capital Markets cut their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Evercore ISI decreased their target price on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Stifel Nicolaus reduced their price objective on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Loop Capital cut shares of CSX from a "buy" rating to a "hold" rating and dropped their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.86.

CSX Stock Up 2.1 %

CSX stock opened at $28.70 on Friday. 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 Co. has a 1-year low of $26.22 and a 1-year high of $37.10. The stock has a market capitalization of $53.91 billion, a P/E ratio of 16.03, a P/E/G ratio of 1.92 and a beta of 1.23. The business has a fifty day moving average price of $29.11 and a 200-day moving average price of $32.05.

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 analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The company had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. Equities analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.81%. This is a boost from CSX's previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX's dividend payout ratio is presently 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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