Cigna Investments Inc. New Reduces Position in CSX Co. (NASDAQ:CSX)

Cigna Investments Inc. New decreased its holdings in CSX Co. (NASDAQ:CSX) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,076 shares of the transportation company’s stock after selling 616 shares during the quarter. Cigna Investments Inc. New’s holdings in CSX were worth $731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of CSX in the fourth quarter worth $27,000. Life Planning Partners Inc bought a new stake in shares of CSX during the 4th quarter valued at about $27,000. Fortis Capital Advisors LLC purchased a new stake in shares of CSX during the 4th quarter valued at about $27,000. Venturi Wealth Management LLC lifted its stake in shares of CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after purchasing an additional 692 shares during the period. Finally, Janiczek Wealth Management LLC boosted its holdings in shares of CSX by 897.2% in the third quarter. Janiczek Wealth Management LLC now owns 1,067 shares of the transportation company’s stock worth $33,000 after buying an additional 960 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ:CSX opened at $37.38 on Monday. The firm has a market capitalization of $73.17 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.15 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The business has a 50 day simple moving average of $36.99 and a 200-day simple moving average of $33.88. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

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

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.28%. 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 26.09%.

Wall Street Analyst Weigh In

CSX has been the topic of several analyst reports. Raymond James lifted their price target on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. TD Cowen upped their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Susquehanna boosted their price objective on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $34.00 target price on shares of CSX in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.88.

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.