T. Rowe Price Investment Management Inc. Increases Holdings in CSX Co. (NASDAQ:CSX)

T. Rowe Price Investment Management Inc. raised its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 45.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,144 shares of the transportation company's stock after buying an additional 94,468 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in CSX were worth $9,718,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of CSX in the fourth quarter worth approximately $31,000. Sierra Ocean LLC bought a new stake in CSX in the 4th quarter worth approximately $33,000. Kayne Anderson Rudnick Investment Management LLC grew its position in CSX by 219.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock worth $34,000 after purchasing an additional 714 shares during the period. Center for Financial Planning Inc. grew its position in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock worth $35,000 after purchasing an additional 720 shares during the period. Finally, Meeder Asset Management Inc. grew its position in CSX by 216.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company's stock worth $35,000 after purchasing an additional 746 shares during the period. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Down 1.1 %

Shares of CSX stock opened at $27.84 on Monday. The stock has a market cap of $52.30 billion, a P/E ratio of 15.55, a PEG ratio of 1.92 and a beta of 1.23. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company's fifty day simple moving average is $29.52 and its two-hundred day simple moving average is $32.25.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly 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 analysts' expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts predict that CSX Co. will post 1.83 EPS for the current fiscal 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 given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. This is a boost from CSX's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX's dividend payout ratio is currently 31.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Susquehanna cut their target price on shares of CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research report on Thursday, April 17th. Robert W. Baird cut their target price on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Citigroup cut their target price on shares of CSX from $39.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. UBS Group cut their price objective on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Stifel Nicolaus cut their price objective on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.95.

About CSX

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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