DnB Asset Management AS Has $28.98 Million Stock Position in CSX Co. (NASDAQ:CSX)

DnB Asset Management AS raised its stake in CSX Co. (NASDAQ:CSX - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 897,913 shares of the transportation company's stock after acquiring an additional 37,111 shares during the period. DnB Asset Management AS's holdings in CSX were worth $28,976,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rehmann Capital Advisory Group boosted its holdings in shares of CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company's stock worth $830,000 after acquiring an additional 306 shares in the last quarter. Joel Isaacson & Co. LLC boosted its stake in CSX by 2.4% in the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock worth $421,000 after purchasing an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in CSX by 1.0% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company's stock worth $1,027,000 after purchasing an additional 313 shares in the last quarter. West Branch Capital LLC grew its holdings in shares of CSX by 3.3% during the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company's stock worth $333,000 after purchasing an additional 332 shares during the last quarter. Finally, Alhambra Investment Management LLC increased its stake in shares of CSX by 4.3% in the fourth quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company's stock valued at $268,000 after buying an additional 342 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

CSX has been the subject of several research reports. Loop Capital cut shares of CSX from a "buy" rating to a "hold" rating and lowered their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Royal Bank of Canada dropped their price objective on shares of CSX from $34.00 to $33.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research report on Friday, March 7th. They set a "hold" rating and a $34.00 target price for the company. Finally, Raymond James reiterated an "outperform" rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $36.20.

CSX Stock Up 0.5 %

CSX traded up $0.14 during trading on Wednesday, hitting $29.68. The company had a trading volume of 4,395,895 shares, compared to its average volume of 12,335,125. The company has a market capitalization of $55.94 billion, a PE ratio of 16.58, a PEG ratio of 1.92 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a one year low of $28.98 and a one year high of $37.10. The firm's 50-day moving average price is $31.61 and its 200 day moving average price is $33.14.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is an increase from CSX's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.75%. CSX's dividend payout ratio (DPR) 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.