Prana Capital Management LP Sells 127,308 Shares of CSX Co. (NASDAQ:CSX)

Prana Capital Management LP lessened its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,591 shares of the transportation company's stock after selling 127,308 shares during the period. Prana Capital Management LP's holdings in CSX were worth $2,407,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock worth $1,339,555,000 after purchasing an additional 726,507 shares during the period. Invesco Ltd. lifted its holdings in shares of CSX by 13.5% during 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 grew its holdings in CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after acquiring an additional 299,536 shares during the period. Norges Bank acquired a new position in shares of CSX in the 4th quarter valued at about $780,194,000. Finally, Bank of New York Mellon Corp boosted its position in shares of CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock valued at $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

Analysts Set New Price Targets

CSX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Bank of America lifted their price objective on shares of CSX from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Benchmark reiterated a "buy" rating and set a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Citigroup dropped their target price on shares of CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Loop Capital downgraded shares of CSX from a "buy" rating to a "hold" rating and dropped their target price for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.90.

CSX Stock Up 0.1%

CSX stock traded up $0.02 during mid-day trading on Friday, reaching $31.32. 11,393,691 shares of the company traded hands, compared to its average volume of 12,850,809. The stock has a market cap of $58.84 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.92 and a beta of 1.22. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The firm's 50 day moving average price is $28.81 and its 200 day moving average price is $31.77. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, May 30th. CSX's dividend payout ratio (DPR) is presently 31.14%.

CSX 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.