American Century Companies Inc. Buys 899,665 Shares of CSX Co. (NASDAQ:CSX)

American Century Companies Inc. lifted its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 20.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,221,868 shares of the transportation company's stock after acquiring an additional 899,665 shares during the quarter. American Century Companies Inc. owned 0.27% of CSX worth $168,510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Avior Wealth Management LLC grew its position in CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company's stock valued at $407,000 after buying an additional 293 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in CSX in the third quarter worth $754,000. Pacer Advisors Inc. lifted its position in shares of CSX by 18.7% during the 3rd quarter. Pacer Advisors Inc. now owns 356,140 shares of the transportation company's stock valued at $12,298,000 after buying an additional 56,109 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CSX by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,592,143 shares of the transportation company's stock worth $400,277,000 after acquiring an additional 51,597 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in CSX during the third quarter valued at about $387,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSX has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Stephens restated an "overweight" rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Susquehanna reduced their target price on CSX from $39.00 to $37.00 and set a "positive" rating for the company in a report on Thursday. BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Finally, Loop Capital cut shares of CSX from a "buy" rating to a "hold" rating and reduced their price objective for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.75.

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CSX Trading Up 0.1 %

CSX stock traded up $0.02 during trading on Thursday, hitting $29.92. 10,440,518 shares of the company traded hands, compared to its average volume of 11,734,945. The company has a 50-day moving average of $31.88 and a 200-day moving average of $33.26. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.18. The firm has a market capitalization of $56.69 billion, a PE ratio of 16.72, a P/E/G ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) 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 return on equity of 28.15% and a net margin of 23.95%. Analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. This is an increase from CSX's previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX's dividend payout ratio is 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.