Liberty Mutual Group Asset Management Inc. reduced its position in shares of CSX Co. (NASDAQ:CSX) by 6.2% during the 4th quarter, HoldingsChannel reports. The fund owned 36,401 shares of the transportation company’s stock after selling 2,405 shares during the quarter. Liberty Mutual Group Asset Management Inc.’s holdings in CSX were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of CSX. First Command Financial Services Inc. increased its position in CSX by 130.0% in the fourth quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after buying an additional 1,200 shares during the period. Front Row Advisors LLC acquired a new stake in CSX in the fourth quarter worth $135,000. IFG Advisory LLC acquired a new stake in CSX in the fourth quarter worth $355,000. Americafirst Capital Management LLC acquired a new stake in CSX in the third quarter worth $308,000. Finally, Pinebridge Investments L.P. increased its position in CSX by 93.7% in the fourth quarter. Pinebridge Investments L.P. now owns 3,384 shares of the transportation company’s stock worth $186,000 after buying an additional 1,637 shares during the period. 69.50% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on CSX. Zacks Investment Research raised CSX from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Scotiabank set a $63.00 target price on CSX and gave the stock a “hold” rating in a research report on Wednesday, January 17th. TD Securities increased their target price on CSX from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, January 17th. Bank of America decreased their price target on CSX from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Finally, BidaskClub raised CSX from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $60.23.
CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the business posted $0.49 earnings per share. CSX’s revenue was down 5.7% compared to the same quarter last year. equities analysts forecast that CSX Co. will post 3.1 EPS for the current fiscal year.
CSX announced that its Board of Directors has approved a stock repurchase plan on Monday, February 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.58%. This is an increase from CSX’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, February 28th. CSX’s dividend payout ratio is currently 13.18%.
COPYRIGHT VIOLATION WARNING: “Liberty Mutual Group Asset Management Inc. Reduces Position in CSX Co. (CSX)” was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://www.tickerreport.com/banking-finance/3223798/liberty-mutual-group-asset-management-inc-reduces-position-in-csx-co-csx.html.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX).
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.