GF Fund Management CO. LTD. Takes $11.79 Million Position in CSX Co. (NASDAQ:CSX)

GF Fund Management CO. LTD. acquired a new stake in shares of CSX Co. (NASDAQ:CSX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 365,479 shares of the transportation company's stock, valued at approximately $11,794,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSX. Ameritas Advisory Services LLC raised its position in CSX by 88.5% during the fourth quarter. Ameritas Advisory Services LLC now owns 11,250 shares of the transportation company's stock valued at $363,000 after purchasing an additional 5,281 shares during the period. Bartlett & CO. Wealth Management LLC raised its position in CSX by 37.0% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 130,273 shares of the transportation company's stock valued at $4,204,000 after purchasing an additional 35,206 shares during the period. Janney Montgomery Scott LLC raised its position in CSX by 69.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 1,179,081 shares of the transportation company's stock valued at $38,049,000 after purchasing an additional 482,277 shares during the period. Wesbanco Bank Inc. raised its position in CSX by 4.5% during the fourth quarter. Wesbanco Bank Inc. now owns 62,477 shares of the transportation company's stock valued at $2,016,000 after purchasing an additional 2,672 shares during the period. Finally, Inspire Investing LLC raised its position in CSX by 9.2% during the fourth quarter. Inspire Investing LLC now owns 37,342 shares of the transportation company's stock valued at $1,205,000 after purchasing an additional 3,147 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Down 0.3%

NASDAQ CSX traded down $0.09 during midday trading on Wednesday, hitting $31.34. 13,828,699 shares of the company traded hands, compared to its average volume of 12,967,407. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a market cap of $58.87 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The company's 50-day simple moving average is $28.95 and its 200-day simple moving average is $31.58. 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 announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) 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 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 forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.66%. CSX's dividend payout ratio (DPR) is presently 31.14%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CSX. Susquehanna reduced their price target on CSX from $37.00 to $35.00 and set a "positive" rating on the stock in a report on Thursday, April 17th. BMO Capital Markets reduced their price target on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus reduced their price target on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada reduced their price target on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Finally, Evercore ISI reduced their price target on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.90.

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.