Ameriprise Financial Inc. raised its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 89.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,856,567 shares of the transportation company's stock after buying an additional 9,863,587 shares during the quarter. Ameriprise Financial Inc. owned 1.08% of CSX worth $673,025,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in CSX. Norges Bank purchased a new stake in shares of CSX in the fourth quarter worth approximately $780,194,000. Bank of New York Mellon Corp lifted its position in CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after buying an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of CSX by 471.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock valued at $217,808,000 after buying an additional 5,568,624 shares during the period. Fiduciary Management Inc. WI purchased a new position in shares of CSX during the 4th quarter valued at $178,259,000. Finally, Invesco Ltd. increased its stake in shares of CSX by 13.5% in the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after acquiring an additional 2,977,212 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.
CSX Stock Performance
CSX traded down $0.22 on Friday, hitting $28.74. 9,630,144 shares of the stock traded hands, compared to its average volume of 12,744,698. The business has a fifty day moving average price of $28.78 and a two-hundred day moving average price of $31.85. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The firm has a market capitalization of $53.99 billion, a PE ratio of 16.06, a P/E/G ratio of 1.92 and a beta of 1.22.
CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $3.53 billion. On average, research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.
CSX Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Friday, May 30th. CSX's payout ratio is 31.14%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on CSX shares. Deutsche Bank Aktiengesellschaft started coverage on CSX in a research report on Friday, March 7th. They set a "hold" rating and a $34.00 price objective for the company. Raymond James restated an "outperform" rating and issued a $33.00 price objective (down previously from $34.00) on shares of CSX in a report on Thursday, April 17th. Benchmark reaffirmed a "buy" rating and set a $35.00 price objective on shares of CSX in a research report on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Finally, Robert W. Baird reduced their price objective on shares of CSX from $39.00 to $38.00 and set an "outperform" 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 given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $33.86.
Check Out Our Latest Report on CSX
CSX Company Profile
(
Free Report)
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.
Featured Articles
Before you consider CSX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CSX wasn't on the list.
While CSX currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
