Russell Investments Group Ltd. Buys 264,670 Shares of CSX Co. (NASDAQ:CSX)

Russell Investments Group Ltd. lifted its stake in CSX Co. (NASDAQ:CSX) by 11.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,529,936 shares of the transportation company’s stock after buying an additional 264,670 shares during the period. Russell Investments Group Ltd. owned about 0.13% of CSX worth $81,619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after acquiring an additional 726,507 shares during the period. Fisher Asset Management LLC increased its position in shares of CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after purchasing an additional 299,536 shares in the last quarter. Norges Bank bought a new position in CSX during the 4th quarter valued at about $780,194,000. Bank of New York Mellon Corp boosted its position in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CSX by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,950,185 shares of the transportation company’s stock worth $385,632,000 after buying an additional 358,042 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 2.8 %

Shares of NASDAQ CSX opened at $27.21 on Friday. CSX Co. has a 52-week low of $26.95 and a 52-week high of $37.10. The stock has a market cap of $51.28 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.92 and a beta of 1.22. 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 firm has a 50 day moving average price of $31.32 and a 200 day moving average price of $33.03.

CSX (NASDAQ:CSX) 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%. Analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is presently 29.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CSX. BMO Capital Markets reduced their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective on the stock. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, January 10th. UBS Group decreased their price objective on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada dropped their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.20.

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.