CSX Co. (NASDAQ:CSX) Stock Position Cut by Manning & Napier Group LLC

Manning & Napier Group LLC trimmed its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,893,994 shares of the transportation company's stock after selling 44,650 shares during the quarter. Manning & Napier Group LLC owned about 0.10% of CSX worth $65,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in shares of CSX by 101,926.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company's stock valued at $722,554,000 after purchasing an additional 23,300,381 shares in the last quarter. Norges Bank acquired a new position in CSX in the fourth quarter worth approximately $621,349,000. First Trust Advisors LP increased its holdings in shares of CSX by 558.0% in the first quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company's stock valued at $203,620,000 after buying an additional 5,767,302 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of CSX by 395.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company's stock valued at $195,059,000 after acquiring an additional 4,158,204 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of CSX by 416.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company's stock worth $155,912,000 after acquiring an additional 4,089,150 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CSX shares. BMO Capital Markets boosted their price target on shares of CSX from $37.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, January 25th. Raymond James lifted their price target on CSX from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, January 16th. Benchmark reissued a "buy" rating and issued a $38.00 price objective on shares of CSX in a research note on Thursday, January 25th. Stifel Nicolaus lowered their target price on CSX from $38.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday, January 25th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $34.00 target price on shares of CSX in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $36.88.

CSX Price Performance

Shares of CSX stock traded up $0.23 during midday trading on Friday, reaching $37.07. The company had a trading volume of 8,659,560 shares, compared to its average volume of 10,916,535. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The stock has a fifty day simple moving average of $36.94 and a 200 day simple moving average of $33.81. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a market capitalization of $72.57 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.13 and a beta of 1.18.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company's revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. As a group, equities research analysts forecast that CSX Co. will post 1.96 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Wednesday, February 28th. This is an increase from CSX's previous quarterly dividend of $0.11. CSX's dividend payout ratio is currently 26.09%.

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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