BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 45,084 Shares of CSX Co. (NASDAQ:CSX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 371,248 shares of the transportation company's stock after buying an additional 45,084 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in CSX were worth $11,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Joel Isaacson & Co. LLC increased its stake in CSX by 2.4% in the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock valued at $421,000 after acquiring an additional 310 shares during the period. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of CSX by 1.0% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company's stock valued at $1,027,000 after acquiring an additional 313 shares during the period. Trust Point Inc. increased its position in shares of CSX by 2.6% during the 4th quarter. Trust Point Inc. now owns 13,722 shares of the transportation company's stock worth $443,000 after purchasing an additional 344 shares in the last quarter. Secure Asset Management LLC boosted its position in CSX by 2.1% in the fourth quarter. Secure Asset Management LLC now owns 17,195 shares of the transportation company's stock valued at $555,000 after buying an additional 357 shares in the last quarter. Finally, Hemington Wealth Management grew its stake in CSX by 14.6% during the fourth quarter. Hemington Wealth Management now owns 2,865 shares of the transportation company's stock worth $92,000 after buying an additional 365 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CSX shares. Royal Bank of Canada reduced their price objective on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 17th. Evercore ISI dropped their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Bank of America raised their price target on shares of CSX from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Monday, May 12th. BMO Capital Markets dropped their target price on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Finally, Susquehanna lowered their price target on shares of CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, CSX presently has an average rating of "Moderate Buy" and an average target price of $33.90.

CSX Price Performance

CSX stock traded up $0.04 during mid-day trading on Wednesday, reaching $31.47. 4,020,767 shares of the company were exchanged, compared to its average volume of 12,929,340. The company has a fifty day simple moving average of $28.95 and a 200-day simple moving average of $31.58. The firm has a market cap of $59.12 billion, a PE ratio of 17.57, a PEG ratio of 1.92 and a beta of 1.22. 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 Co. has a 12 month low of $26.22 and a 12 month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities research analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, May 30th. CSX's dividend payout ratio (DPR) is 31.14%.

About CSX

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.