Charles Schwab Investment Management Inc. Purchases 358,042 Shares of CSX Co. (NASDAQ:CSX)

Charles Schwab Investment Management Inc. raised its stake in CSX Co. (NASDAQ:CSX - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,950,185 shares of the transportation company's stock after buying an additional 358,042 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.62% of CSX worth $385,632,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Diversified Trust Co raised its position in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company's stock valued at $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new position in shares of CSX during the 4th quarter worth approximately $1,084,000. Thrivent Financial for Lutherans raised its holdings in shares of CSX by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company's stock valued at $116,521,000 after purchasing an additional 24,430 shares during the last quarter. Carnegie Investment Counsel lifted its position in shares of CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company's stock worth $19,751,000 after purchasing an additional 8,474 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in CSX by 3.4% during the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company's stock worth $81,095,000 after purchasing an additional 77,488 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and lowered their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Stephens reaffirmed an "overweight" rating and issued a $38.00 target price on shares of CSX in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their target price on CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Raymond James restated an "outperform" rating and issued a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Finally, Royal Bank of Canada dropped their price objective on CSX from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CSX has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Performance

Shares of NASDAQ CSX traded up $0.33 during trading hours on Friday, reaching $31.26. 19,422,389 shares of the stock were exchanged, compared to its average volume of 11,630,004. The stock's fifty day simple moving average is $32.48 and its 200 day simple moving average is $33.62. The firm has a market capitalization of $59.23 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 1.92 and a beta of 1.25. CSX Co. has a 52 week low of $30.55 and a 52 week high of $38.35. 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 (NASDAQ:CSX - Get Free Report) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.66%. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is currently 29.05%.

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.