First Trust Advisors LP boosted its stake in CSX Co. (NASDAQ:CSX - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,147,485 shares of the transportation company's stock after purchasing an additional 692,291 shares during the quarter. First Trust Advisors LP owned about 0.42% of CSX worth $262,919,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Fiduciary Management Inc. WI bought a new stake in shares of CSX during the 4th quarter worth $178,259,000. Forum Financial Management LP boosted its stake in shares of CSX by 5.7% during the 4th quarter. Forum Financial Management LP now owns 20,096 shares of the transportation company's stock worth $648,000 after acquiring an additional 1,080 shares in the last quarter. Capital International Sarl boosted its position in CSX by 3.2% during the fourth quarter. Capital International Sarl now owns 78,464 shares of the transportation company's stock worth $2,532,000 after purchasing an additional 2,468 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of CSX by 7.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,789,839 shares of the transportation company's stock worth $57,726,000 after purchasing an additional 117,485 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in CSX by 11.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 3,487,409 shares of the transportation company's stock valued at $112,539,000 after buying an additional 366,419 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on CSX shares. Barclays reduced their price target on shares of CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Benchmark restated a "buy" rating and issued a $35.00 target price on shares of CSX in a research note on Thursday, April 17th. Stifel Nicolaus lowered their price target on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Raymond James reaffirmed an "outperform" rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a report on Thursday, April 17th. Finally, BMO Capital Markets decreased their price target on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.95.
Read Our Latest Research Report on CSX
CSX Price Performance
Shares of NASDAQ CSX traded down $0.25 during midday trading on Friday, reaching $27.89. 4,758,196 shares of the company were exchanged, compared to its average volume of 12,655,684. 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 $26.22 and a one year high of $37.10. The stock's 50-day moving average price is $29.63 and its 200-day moving average price is $32.33. The stock has a market cap of $52.40 billion, a P/E ratio of 15.57, a PEG ratio of 1.92 and a beta of 1.23.
CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.
CSX Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. 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 yield of 1.86%. The ex-dividend date was Friday, February 28th. CSX's payout ratio is presently 31.14%.
About CSX
(
Free Report)
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.
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