M&G Investment Management Ltd. Buys 810,362 Shares of CSX Co. (NASDAQ:CSX)

M&G Investment Management Ltd. raised its position in CSX Co. (NASDAQ:CSX - Free Report) by 25.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,993,901 shares of the transportation company's stock after buying an additional 810,362 shares during the period. CSX comprises 0.8% of M&G Investment Management Ltd.'s investment portfolio, making the stock its 28th biggest position. M&G Investment Management Ltd. owned approximately 0.20% of CSX worth $139,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in CSX in the 4th quarter valued at about $27,000. Life Planning Partners Inc purchased a new stake in CSX during the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC increased its position in shares of CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company's stock valued at $31,000 after purchasing an additional 692 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX in the 4th quarter valued at approximately $34,000. Finally, Avion Wealth increased its position in shares of CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company's stock valued at $35,000 after purchasing an additional 820 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSX. BMO Capital Markets increased their target price on shares of CSX from $37.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their price target on shares of CSX from $37.00 to $39.00 and gave the stock a "buy" rating in a research note on Friday, April 12th. TD Cowen increased their price target on shares of CSX from $32.00 to $36.00 and gave the stock a "market perform" rating in a research note on Thursday, January 25th. Benchmark reiterated a "buy" rating and set a $40.00 price target on shares of CSX in a research note on Thursday, April 18th. Finally, Raymond James increased their price target on shares of CSX from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 16th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, CSX presently has an average rating of "Moderate Buy" and an average price target of $38.00.

CSX Price Performance

NASDAQ:CSX traded down $0.09 during mid-day trading on Wednesday, hitting $33.84. 12,531,896 shares of the company's stock traded hands, compared to its average volume of 12,140,913. The company has a market cap of $66.15 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 2.07 and a beta of 1.19. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The firm's 50 day simple moving average is $35.68 and its 200 day simple moving average is $34.80.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The company's quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts expect that CSX Co. will post 1.95 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. CSX's dividend payout ratio (DPR) is 26.37%.

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.