CSX Co. (NASDAQ:CSX) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its position in CSX Co. (NASDAQ:CSX - Free Report) by 27.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,492 shares of the transportation company's stock after acquiring an additional 24,187 shares during the period. Harvest Fund Management Co. Ltd's holdings in CSX were worth $3,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CSX. Diversified Trust Co lifted its holdings in shares of CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company's stock valued at $2,330,000 after purchasing an additional 46,473 shares during the last quarter. Marshall Financial Group LLC purchased a new stake in CSX in the fourth quarter valued at about $1,084,000. Carnegie Investment Counsel raised its stake in CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company's stock valued at $19,751,000 after buying an additional 8,474 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in CSX by 6.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company's stock worth $22,549,000 after acquiring an additional 41,547 shares in the last quarter. Finally, Waycross Partners LLC grew its stake in shares of CSX by 7.0% during the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company's stock worth $19,990,000 after acquiring an additional 40,611 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stephens reiterated an "overweight" rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Barclays decreased their price target on shares of CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Citigroup cut their target price on CSX from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research report on Friday, March 7th. They set a "hold" rating and a $34.00 price target for the company. Finally, BMO Capital Markets cut their price objective on CSX from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

CSX Stock Performance

CSX stock traded down $0.41 during midday trading on Friday, hitting $29.57. 25,368,757 shares of the stock traded hands, compared to its average volume of 11,738,900. The stock's fifty day simple moving average is $32.03 and its 200-day simple moving average is $33.35. The firm has a market cap of $56.02 billion, a P/E ratio of 16.52, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a 1-year low of $28.98 and a 1-year high of $37.40. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

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

CSX Increases Dividend

The firm also recently announced 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 1.76%. 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 presently 29.05%.

CSX 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.