CSX Co. (NASDAQ:CSX) Shares Acquired by New England Asset Management Inc.

New England Asset Management Inc. lifted its position in shares of CSX Co. (NASDAQ:CSX) by 135.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 135,115 shares of the transportation company’s stock after acquiring an additional 77,655 shares during the quarter. New England Asset Management Inc.’s holdings in CSX were worth $4,360,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in CSX in the fourth quarter worth $780,194,000. Ameriprise Financial Inc. increased its position in CSX by 89.7% in the fourth quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock worth $673,025,000 after buying an additional 9,863,587 shares during the period. Bank of New York Mellon Corp grew its stake in shares of 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 worth $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of CSX by 471.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after purchasing an additional 5,568,624 shares in the last quarter. Finally, Fiduciary Management Inc. WI bought a new position in shares of CSX in the fourth quarter worth $178,259,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Up 5.5%

Shares of CSX stock opened at $30.31 on Tuesday. The stock has a 50-day simple moving average of $28.77 and a 200 day simple moving average of $31.82. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The stock has a market capitalization of $56.94 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.92 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. On average, sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%. CSX’s dividend payout ratio (DPR) is 31.14%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Bank of America increased their price target on CSX from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday. Benchmark reissued a “buy” rating and issued a $35.00 price target on shares of CSX in a research note on Thursday, April 17th. Royal Bank of Canada decreased their price target on CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a research note on Thursday, April 17th. Jefferies Financial Group decreased their price target on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Stifel Nicolaus decreased their price target on CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Seven investment 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, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $33.90.

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.