Norges Bank Takes $780.19 Million Position in CSX Co. (NASDAQ:CSX)

Norges Bank bought a new position in shares of CSX Co. (NASDAQ:CSX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,177,080 shares of the transportation company's stock, valued at approximately $780,194,000. Norges Bank owned approximately 1.25% of CSX as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in CSX. State Street Corp lifted its stake in CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company's stock valued at $2,840,117,000 after buying an additional 455,258 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CSX by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company's stock valued at $1,407,087,000 after acquiring an additional 190,346 shares during the period. Fisher Asset Management LLC raised its position in CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock valued at $805,345,000 after purchasing an additional 299,536 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after purchasing an additional 6,730,316 shares during the period. Finally, FMR LLC grew its position in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company's stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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CSX Price Performance

CSX stock traded up $0.05 during midday trading on Tuesday, hitting $29.48. 2,626,077 shares of the stock were exchanged, compared to its average volume of 12,332,008. The stock's 50-day moving average price is $31.68 and its 200-day moving average price is $33.17. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock has a market cap of $55.57 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last released 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%. Research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.76%. CSX's dividend payout ratio is currently 29.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Susquehanna decreased their price objective on CSX from $39.00 to $37.00 and set a "positive" rating for the company in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research note on Friday, March 7th. They issued a "hold" rating and a $34.00 target price on the stock. JPMorgan Chase & Co. cut their price target on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Finally, Raymond James reiterated an "outperform" rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.75.

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.