Invesco Ltd. Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Invesco Ltd. raised its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 13.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,103,077 shares of the transportation company's stock after buying an additional 2,977,212 shares during the quarter. Invesco Ltd. owned about 1.30% of CSX worth $810,076,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after acquiring an additional 15,029 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company's stock worth $2,330,000 after purchasing an additional 46,473 shares during the period. Marshall Financial Group LLC bought a new position in shares of CSX during the 4th quarter valued at approximately $1,084,000. Carnegie Investment Counsel raised its holdings in CSX by 1.4% during the 4th 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 period. Finally, Nomura Asset Management Co. Ltd. lifted its position 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 buying an additional 41,547 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have weighed in on CSX shares. Susquehanna cut their price objective on shares of CSX from $39.00 to $37.00 and set a "positive" rating on the stock in a research report on Thursday, March 27th. Benchmark reiterated a "buy" rating and set a $38.00 price target on shares of CSX in a report on Monday, January 27th. Robert W. Baird decreased their price objective on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Jefferies Financial Group dropped their target price on CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on CSX in a report on Friday, March 7th. They issued a "hold" rating and a $34.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.70.

CSX Stock Up 0.7 %

Shares of CSX traded up $0.19 during mid-day trading on Friday, hitting $28.01. The company's stock had a trading volume of 15,001,822 shares, compared to its average volume of 12,672,219. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company's 50-day moving average is $30.58 and its 200-day moving average is $32.71. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The firm has a market capitalization of $52.79 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.92 and a beta of 1.23.

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%. On average, equities research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) 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.