T. Rowe Price Investment Management Inc. Buys 94,468 Shares of CSX Co. (NASDAQ:CSX)

T. Rowe Price Investment Management Inc. raised its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 45.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 301,144 shares of the transportation company's stock after purchasing an additional 94,468 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in CSX were worth $9,718,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CSX. Geode Capital Management LLC boosted its holdings in CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock worth $1,339,555,000 after purchasing an additional 726,507 shares during the last quarter. Invesco Ltd. boosted its stake in shares of CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after buying an additional 2,977,212 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of CSX by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after acquiring an additional 299,536 shares during the period. Norges Bank purchased a new stake in CSX during the fourth quarter valued at $780,194,000. Finally, Bank of New York Mellon Corp lifted its holdings in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock valued at $753,507,000 after acquiring an additional 6,730,316 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of CSX traded up $0.04 during midday trading on Thursday, hitting $28.11. 13,020,568 shares of the company traded hands, compared to its average volume of 12,681,608. The stock has a market cap of $52.81 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.92 and a beta of 1.23. The firm has a 50 day moving average of $29.25 and a 200-day moving average of $32.15. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. 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 released its quarterly earnings results 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 firm 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%. On average, analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.85%. This is a positive change from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is 31.14%.

Wall Street Analyst Weigh In

CSX has been the subject of several research reports. Jefferies Financial Group reduced their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Susquehanna decreased their price target on shares of CSX from $37.00 to $35.00 and set a "positive" rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus dropped their price target on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. BMO Capital Markets reduced their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Finally, Stephens reiterated an "overweight" rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of "Moderate Buy" and an average price target of $33.86.

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.