Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Position in CSX Corporation (NASDAQ:CSX)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of CSX Corporation (NASDAQ:CSX) by 33.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,063 shares of the transportation company’s stock after purchasing an additional 52,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CSX were worth $6,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of CSX during the 4th quarter valued at $27,000. Rossby Financial LCC purchased a new stake in shares of CSX during the 1st quarter valued at $28,000. Accredited Wealth Management LLC purchased a new position in CSX in the 4th quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new position in CSX in the 4th quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in CSX in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ:CSX opened at $36.32 on Friday. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $67.71 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The stock’s 50-day moving average price is $33.98 and its 200-day moving average price is $31.57.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the firm earned $0.49 EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 29th. CSX’s payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research analyst reports. Sanford C. Bernstein restated a “market perform” rating and issued a $36.00 target price (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Robert W. Baird raised their target price on CSX from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Barclays raised their target price on CSX from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Susquehanna restated a “neutral” rating and issued a $35.00 target price on shares of CSX in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. raised their target price on CSX from $34.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.