Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 20.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 457,220 shares of the transportation company’s stock after selling 120,775 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CSX were worth $34,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cigna Investments Inc. New grew its holdings in shares of CSX by 1.1% during the fourth quarter. Cigna Investments Inc. New now owns 26,360 shares of the transportation company’s stock valued at $1,637,000 after buying an additional 276 shares during the last quarter. Suntrust Banks Inc. lifted its position in shares of CSX by 15.2% during the fourth quarter. Suntrust Banks Inc. now owns 342,170 shares of the transportation company’s stock valued at $21,259,000 after purchasing an additional 45,146 shares in the last quarter. Shelton Capital Management lifted its position in shares of CSX by 33.2% during the fourth quarter. Shelton Capital Management now owns 111,623 shares of the transportation company’s stock valued at $6,935,000 after purchasing an additional 27,800 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of CSX by 5.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 359,815 shares of the transportation company’s stock valued at $22,355,000 after purchasing an additional 18,062 shares in the last quarter. Finally, Thoroughbred Financial Services LLC bought a new position in shares of CSX during the fourth quarter valued at about $221,000. Hedge funds and other institutional investors own 75.51% of the company’s stock.

A number of research analysts recently weighed in on CSX shares. Citigroup raised their price target on shares of CSX from $79.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Stifel Nicolaus lowered shares of CSX from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research report on Wednesday, March 6th. UBS Group lowered shares of CSX from a “buy” rating to a “neutral” rating and raised their price target for the company from $75.00 to $80.00 in a research report on Friday, April 5th. ValuEngine raised shares of CSX from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Finally, BidaskClub lowered shares of CSX from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $79.58.

Shares of CSX stock opened at $77.44 on Thursday. The stock has a market capitalization of $63.39 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.34 and a beta of 1.29. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.68 and a current ratio of 1.81. CSX Co. has a 52 week low of $58.47 and a 52 week high of $80.73.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, April 16th. The transportation company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3 billion. CSX had a net margin of 27.84% and a return on equity of 26.13%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Research analysts predict that CSX Co. will post 4.35 earnings per share for the current year.

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 given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, May 30th. CSX’s dividend payout ratio is 25.00%.

In other CSX news, VP Angela C. Williams sold 9,560 shares of CSX stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $79.14, for a total value of $756,578.40. Following the sale, the vice president now owns 14,607 shares of the company’s stock, valued at $1,155,997.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.83% of the company’s stock.

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CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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