First Manhattan CO. LLC. Trims Stock Holdings in CSX Co. (NASDAQ:CSX)

First Manhattan CO. LLC. lowered its position in shares of CSX Co. (NASDAQ:CSX) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 155,261 shares of the transportation company’s stock after selling 720 shares during the quarter. First Manhattan CO. LLC.’s holdings in CSX were worth $5,010,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CSX. Wellington Management Group LLP raised its stake in shares of CSX by 14.7% during the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after buying an additional 15,029 shares during the last quarter. Marshall Financial Group LLC purchased a new position in CSX during the fourth quarter valued at approximately $1,084,000. Carnegie Investment Counsel lifted its holdings in CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after acquiring an additional 8,474 shares during the period. Waycross Partners LLC increased its holdings in CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after buying an additional 40,611 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of CSX by 1.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,061,143 shares of the transportation company’s stock worth $34,243,000 after acquiring an additional 20,073 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $28.74 on Friday. The firm has a market cap of $53.99 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.92 and a beta of 1.22. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The business’s 50-day moving average price is $28.78 and its 200 day moving average price is $31.86. 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) last announced its quarterly earnings data 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). CSX had a net margin of 23.95% and a return on equity of 28.15%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. On average, equities research analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio is currently 31.14%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group dropped their price target on shares of CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. dropped their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Robert W. Baird lowered their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft started coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 target price for the company. Finally, Jefferies Financial Group cut their price objective on shares of CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average target price of $33.86.

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.