Allianz SE Takes $6.79 Million Position in CSX Co. (NASDAQ:CSX)

Allianz SE bought a new position in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, HoldingsChannel reports. The fund bought 211,035 shares of the transportation company’s stock, valued at approximately $6,787,000.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its position in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of CSX by 3.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 801,352 shares of the transportation company’s stock worth $27,671,000 after buying an additional 26,109 shares during the last quarter. Public Sector Pension Investment Board increased its position in CSX by 10.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 82,276 shares of the transportation company’s stock valued at $2,841,000 after acquiring an additional 7,700 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new stake in CSX during the 3rd quarter valued at approximately $14,261,000. Finally, Erste Asset Management GmbH acquired a new stake in CSX during the 3rd quarter worth approximately $2,204,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSX has been the subject of several analyst reports. BMO Capital Markets cut their price target on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. 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 report on Friday, January 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. Raymond James reiterated an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Finally, Susquehanna reduced their price target on CSX from $39.00 to $37.00 and set a “positive” rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

CSX Trading Down 2.7 %

Shares of CSX stock opened at $29.11 on Friday. The business has a 50 day moving average price of $31.75 and a 200 day moving average price of $33.20. The company has a market capitalization of $54.86 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.10.

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

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

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.