Aigen Investment Management LP Cuts Position in CSX Co. (NASDAQ:CSX)

Aigen Investment Management LP lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 43.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,354 shares of the transportation company’s stock after selling 9,526 shares during the period. Aigen Investment Management LP’s holdings in CSX were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its holdings in CSX by 10.4% during the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after acquiring an additional 2,748,738 shares in the last quarter. Morgan Stanley increased its stake in shares of CSX by 3.1% during the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of CSX by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock worth $775,855,000 after purchasing an additional 470,640 shares during the last quarter. Norges Bank purchased a new stake in CSX in the 4th quarter valued at approximately $757,276,000. Finally, Northern Trust Corp lifted its stake in CSX by 1.4% in the 3rd quarter. Northern Trust Corp now owns 21,307,242 shares of the transportation company’s stock valued at $655,198,000 after buying an additional 303,684 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 1.5 %

CSX opened at $33.50 on Friday. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm has a 50 day moving average price of $35.09 and a 200 day moving average price of $34.91. 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 company has a market cap of $65.49 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The company 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%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. Sell-side analysts expect that CSX Co. will post 1.96 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, May 31st. CSX’s dividend payout ratio is presently 26.37%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSX. Jefferies Financial Group cut their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Bank of America cut their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. UBS Group decreased their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Thursday, April 18th. Finally, Royal Bank of Canada reduced their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price 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.