Intact Investment Management Inc. Trims Stock Position in CSX Co. (NASDAQ:CSX)

Intact Investment Management Inc. cut its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,500 shares of the transportation company's stock after selling 39,300 shares during the quarter. Intact Investment Management Inc.'s holdings in CSX were worth $3,554,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of CSX by 2.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,511,225 shares of the transportation company's stock worth $52,403,000 after buying an additional 41,048 shares during the period. Valmark Advisers Inc. increased its position in shares of CSX by 1.2% during the fourth quarter. Valmark Advisers Inc. now owns 33,654 shares of the transportation company's stock worth $1,167,000 after buying an additional 386 shares during the period. Citizens Financial Group Inc. RI boosted its stake in CSX by 6.6% during the fourth quarter. Citizens Financial Group Inc. RI now owns 32,318 shares of the transportation company's stock worth $1,120,000 after acquiring an additional 1,998 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in CSX by 23.1% during the fourth quarter. McClarren Financial Advisors Inc. now owns 9,919 shares of the transportation company's stock worth $344,000 after acquiring an additional 1,861 shares in the last quarter. Finally, Stanley Laman Group Ltd. bought a new position in CSX during the fourth quarter worth $224,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock traded down $0.04 during mid-day trading on Friday, hitting $33.99. 10,661,945 shares of the company traded hands, compared to its average volume of 13,982,926. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The stock has a market cap of $66.45 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock has a fifty day moving average price of $36.61 and a 200-day moving average price of $34.51.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. On average, equities analysts predict that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. This is an increase from CSX's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX's payout ratio is presently 26.37%.

Analyst Ratings Changes

A number of research firms have weighed in on CSX. Royal Bank of Canada dropped their price objective on shares of CSX from $37.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 18th. TD Cowen raised their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a "market perform" rating in a report on Thursday, January 25th. Benchmark restated a "buy" rating and set a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. BMO Capital Markets raised their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Finally, Bank of America reduced their target price on shares of CSX from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

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.