Royal Bank of Canada Raises Stake in CSX Co. (NASDAQ:CSX)

Royal Bank of Canada boosted its position in CSX Co. (NASDAQ:CSX - Free Report) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,505,516 shares of the transportation company's stock after acquiring an additional 916,987 shares during the quarter. Royal Bank of Canada owned 0.54% of CSX worth $339,013,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of CSX in the fourth quarter worth $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the fourth quarter worth $29,000. SBI Securities Co. Ltd. bought a new stake in shares of CSX in the fourth quarter worth $31,000. Sierra Ocean LLC bought a new stake in shares of CSX in the fourth quarter worth $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of CSX by 219.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock worth $34,000 after purchasing an additional 714 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CSX. BMO Capital Markets reduced their price objective on shares of CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company reduced their price objective on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Barclays dropped their target price on shares of CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a report on Friday, March 7th. They issued a "hold" rating and a $34.00 target price on the stock. Finally, UBS Group dropped their target price on shares of CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.90.

CSX Price Performance

NASDAQ CSX traded up $0.02 on Tuesday, hitting $31.23. The stock had a trading volume of 14,966,093 shares, compared to its average volume of 12,870,293. The firm has a 50-day moving average of $28.84 and a 200-day moving average of $31.74. 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 company has a market capitalization of $58.67 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, May 30th. CSX's dividend payout ratio (DPR) is currently 31.14%.

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.