CSX Co. (NASDAQ:CSX) Stock Position Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in shares of CSX Co. (NASDAQ:CSX) by 8.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,098,942 shares of the transportation company’s stock after buying an additional 83,102 shares during the period. Handelsbanken Fonder AB’s holdings in CSX were worth $35,463,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CSX. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after buying an additional 80,423 shares in the last quarter. Diversified Trust Co raised its position in shares of CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares during the period. Marshall Financial Group LLC acquired a new stake in shares of CSX during the fourth quarter worth $1,084,000. Thrivent Financial for Lutherans lifted its holdings in shares of CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after purchasing an additional 24,430 shares during the last quarter. Finally, Carnegie Investment Counsel boosted its position in shares of CSX by 1.4% in the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on CSX. Robert W. Baird cut their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada reduced their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Benchmark reaffirmed a “buy” rating and issued a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Friday, January 10th. Finally, Barclays decreased their target price on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Price Performance

NASDAQ CSX opened at $32.46 on Friday. The company has a 50 day moving average price of $32.65 and a two-hundred day moving average price of $33.77. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The stock has a market capitalization of $62.60 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.60%. CSX’s dividend payout ratio is currently 26.82%.

CSX Company Profile

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.