Brandywine Global Investment Management LLC Sells 2,842,445 Shares of CSX Co. (NASDAQ:CSX)

Brandywine Global Investment Management LLC lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 70.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,183,470 shares of the transportation company’s stock after selling 2,842,445 shares during the period. Brandywine Global Investment Management LLC owned about 0.06% of CSX worth $38,191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Diversified Trust Co raised its holdings in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares during the period. Marshall Financial Group LLC acquired a new position in CSX during the 4th quarter worth approximately $1,084,000. Carnegie Investment Counsel increased its stake 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 purchasing an additional 8,474 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in CSX by 6.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after buying an additional 41,547 shares during the period. Finally, Waycross Partners LLC grew its stake in shares of CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after purchasing an additional 40,611 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CSX. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Friday, January 10th. Raymond James reissued an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price target for the company. Barclays reduced their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.75.

CSX Trading Down 2.7 %

Shares of CSX stock opened at $29.11 on Friday. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.10. The stock has a market cap of $54.86 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The firm has a fifty day moving average price of $31.75 and a 200 day moving average price of $33.20. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 29.05%.

CSX Company 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.