CSX Co. (NASDAQ:CSX) Shares Purchased by NFJ Investment Group LLC

NFJ Investment Group LLC raised its stake in CSX Co. (NASDAQ:CSX) by 480.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,857 shares of the transportation company’s stock after acquiring an additional 33,820 shares during the quarter. NFJ Investment Group LLC’s holdings in CSX were worth $1,318,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CSX. Guggenheim Capital LLC grew its position in shares of CSX by 3.3% during the 4th quarter. Guggenheim Capital LLC now owns 565,189 shares of the transportation company’s stock valued at $18,239,000 after acquiring an additional 18,114 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in CSX during the fourth quarter worth approximately $3,387,000. Canada Post Corp Registered Pension Plan acquired a new stake in CSX in the fourth quarter valued at approximately $2,592,000. Value Partners Investments Inc. increased its position in shares of CSX by 3.0% in the fourth quarter. Value Partners Investments Inc. now owns 60,027 shares of the transportation company’s stock valued at $1,937,000 after buying an additional 1,770 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of CSX during the 4th quarter worth approximately $1,501,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX opened at $27.64 on Friday. The firm has a 50-day simple moving average of $30.18 and a two-hundred day simple moving average of $32.55. The stock has a market cap of $52.09 billion, a PE ratio of 15.44, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10. 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 (NASDAQ:CSX) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. As a group, analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio is currently 31.14%.

Analyst Ratings Changes

A number of research firms have weighed in on CSX. Citigroup reduced their price objective on shares of CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. 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 note on Thursday. Raymond James restated an “outperform” rating and issued a $33.00 target price (down previously from $34.00) on shares of CSX in a research report on Thursday. Finally, Stifel Nicolaus reduced their price objective on CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.95.

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.