Capital Research Global Investors Increases Stock Position in CSX Co. (NASDAQ:CSX)

Capital Research Global Investors increased its holdings in CSX Co. (NASDAQ:CSX) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,198,951 shares of the transportation company’s stock after buying an additional 1,724,829 shares during the period. CSX accounts for 1.2% of Capital Research Global Investors’ investment portfolio, making the stock its 17th biggest position. Capital Research Global Investors owned approximately 7.00% of CSX worth $3,921,836,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CSX. Sepio Capital LLC grew its holdings in shares of CSX by 1.0% during the fourth quarter. Sepio Capital LLC now owns 14,077 shares of the transportation company’s stock worth $1,019,000 after buying an additional 133 shares in the last quarter. Augustine Asset Management Inc. grew its position in CSX by 0.5% in the fourth quarter. Augustine Asset Management Inc. now owns 29,100 shares of the transportation company’s stock worth $2,106,000 after acquiring an additional 133 shares in the last quarter. Asset Dedication LLC increased its position in shares of CSX by 22.3% during the 4th quarter. Asset Dedication LLC now owns 734 shares of the transportation company’s stock valued at $52,000 after purchasing an additional 134 shares during the last quarter. Covington Capital Management raised its stake in shares of CSX by 1.2% during the third quarter. Covington Capital Management now owns 11,845 shares of the transportation company’s stock worth $821,000 after acquiring an additional 145 shares in the last quarter. Finally, Indiana Trust & Investment Management CO lifted its stake in CSX by 3.1% in the fourth quarter. Indiana Trust & Investment Management CO now owns 4,975 shares of the transportation company’s stock worth $360,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 73.94% of the company’s stock.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded CSX from a “sell” rating to a “hold” rating and set a $58.00 target price for the company in a research note on Wednesday. Royal Bank of Canada reaffirmed a “neutral” rating on shares of CSX in a report on Wednesday, March 18th. Benchmark started coverage on shares of CSX in a research report on Tuesday, January 21st. They issued a “hold” rating on the stock. Credit Suisse Group raised their target price on shares of CSX from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Evercore ISI initiated coverage on shares of CSX in a research note on Thursday. They set an “outperform” rating and a $68.00 price objective for the company. Nineteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. CSX presently has a consensus rating of “Hold” and a consensus price target of $75.77.

CSX traded up $1.48 during trading on Thursday, hitting $58.01. 1,713,318 shares of the stock traded hands, compared to its average volume of 8,640,073. The firm has a market capitalization of $42.95 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.52 and a quick ratio of 1.40. The firm has a 50-day moving average of $69.01 and a 200 day moving average of $71.04. CSX Co. has a 12-month low of $46.81 and a 12-month high of $80.73.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 16th. The transportation company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.02. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. CSX had a net margin of 27.91% and a return on equity of 27.49%. CSX’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. As a group, equities analysts predict that CSX Co. will post 4.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 28th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.79%. The ex-dividend date was Thursday, February 27th. This is a positive change from CSX’s previous quarterly dividend of $0.24. CSX’s dividend payout ratio (DPR) is 24.94%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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