KLP Kapitalforvaltning AS Purchases New Shares in CSX Co. (NASDAQ:CSX)

KLP Kapitalforvaltning AS bought a new stake in CSX Co. (NASDAQ:CSX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 699,916 shares of the transportation company's stock, valued at approximately $22,586,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSX. SBI Securities Co. Ltd. bought a new position in CSX in the fourth quarter valued at about $31,000. Sierra Ocean LLC bought a new stake in shares of CSX during the 4th quarter valued at approximately $33,000. Center for Financial Planning Inc. grew its holdings in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock valued at $35,000 after purchasing an additional 720 shares during the last quarter. Atala Financial Inc acquired a new position in CSX during the 4th quarter worth approximately $36,000. Finally, Millstone Evans Group LLC bought a new position in CSX in the 4th quarter valued at approximately $37,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CSX shares. Benchmark reiterated a "buy" rating and set a $38.00 price target on shares of CSX in a report on Monday, January 27th. Royal Bank of Canada lowered their target price on CSX from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. Wells Fargo & Company cut their price target on CSX from $34.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Thursday. Citigroup lowered their price objective on CSX from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, January 24th. Finally, Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and reduced their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.75.

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CSX Stock Up 0.1 %

Shares of CSX stock traded up $0.02 during trading on Thursday, reaching $29.92. 10,440,518 shares of the company traded hands, compared to its average volume of 11,734,945. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a 50 day moving average price of $31.88 and a 200-day moving average price of $33.26. The firm has a market capitalization of $56.69 billion, a PE ratio of 16.72, a P/E/G 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 $37.18.

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 (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from CSX's previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. 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.