BI Asset Management Fondsmaeglerselskab A S Purchases 24,764 Shares of CSX Co. (NASDAQ:CSX)

BI Asset Management Fondsmaeglerselskab A S grew its position in CSX Co. (NASDAQ:CSX - Free Report) by 56.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,532 shares of the transportation company's stock after purchasing an additional 24,764 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in CSX were worth $2,212,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CSX. Tudor Financial Inc. bought a new stake in CSX during the third quarter worth about $473,000. World Investment Advisors LLC raised its holdings in CSX by 137.4% during the third quarter. World Investment Advisors LLC now owns 16,145 shares of the transportation company's stock worth $557,000 after acquiring an additional 9,344 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in CSX by 260.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 24,970 shares of the transportation company's stock worth $862,000 after acquiring an additional 18,049 shares in the last quarter. Tidal Investments LLC raised its holdings in CSX by 9.2% during the third quarter. Tidal Investments LLC now owns 194,760 shares of the transportation company's stock worth $6,725,000 after acquiring an additional 16,456 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in CSX by 9.2% during the third quarter. Franklin Resources Inc. now owns 1,350,289 shares of the transportation company's stock worth $47,652,000 after acquiring an additional 113,530 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

CSX stock traded down $0.30 during midday trading on Friday, reaching $27.84. The company had a trading volume of 14,351,235 shares, compared to its average volume of 12,703,603. The company has a market capitalization of $52.30 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The stock has a 50 day moving average price of $29.52 and a 200-day moving average price of $32.25. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly 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 company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. Equities research analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is currently 31.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company lowered their price target on CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. BMO Capital Markets lowered their price target on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Evercore ISI lowered their price target on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Robert W. Baird lowered their price target on CSX from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.95.

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.