Royal London Asset Management Ltd. Increases Stake in CSX Co. (NASDAQ:CSX)

Royal London Asset Management Ltd. raised its holdings in shares of CSX Co. (NASDAQ:CSXFree Report) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 822,766 shares of the transportation company’s stock after buying an additional 54,537 shares during the period. Royal London Asset Management Ltd.’s holdings in CSX were worth $25,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSX. Moneta Group Investment Advisors LLC increased its holdings in CSX by 101,926.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after buying an additional 23,300,381 shares during the last quarter. Capital International Investors boosted its position in shares of CSX by 181.1% in the second quarter. Capital International Investors now owns 31,241,274 shares of the transportation company’s stock worth $1,065,128,000 after purchasing an additional 20,126,839 shares during the period. Norges Bank bought a new position in shares of CSX in the fourth quarter worth approximately $621,349,000. First Trust Advisors LP boosted its position in shares of CSX by 558.0% in the first quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock worth $203,620,000 after purchasing an additional 5,767,302 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of CSX by 395.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock worth $195,059,000 after purchasing an additional 4,158,204 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CSX shares. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of CSX in a research report on Thursday, January 25th. BMO Capital Markets upped their price target on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. dropped their price target on shares of CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, December 21st. Stifel Nicolaus dropped their price target on shares of CSX from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Finally, StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $36.24.

View Our Latest Research Report on CSX

CSX Trading Down 0.4 %

Shares of CSX opened at $37.92 on Friday. CSX Co. has a twelve month low of $27.60 and a twelve month high of $40.12. The company has a market cap of $74.29 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.21 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The company’s fifty day simple moving average is $36.14 and its 200-day simple moving average is $33.09.

CSX (NASDAQ:CSXGet Free Report) last announced its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. As a group, analysts expect that CSX Co. will post 1.96 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is currently 26.09%.

CSX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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