CSX Co. (NASDAQ:CSX) Stake Lowered by Price T Rowe Associates Inc. MD

by · The Markets Daily

Price T Rowe Associates Inc. MD decreased its stake in CSX Co. (NASDAQ:CSX – Free Report) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,157,360 shares of the transportation company’s stock after selling 7,961,244 shares during the period. Price T Rowe Associates Inc. MD’s holdings in CSX were worth $1,618,579,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CSX. Jefferies Financial Group decreased their target price 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. Wells Fargo & Company decreased their price objective on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Stifel Nicolaus dropped their target price on CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 14th. UBS Group lowered their price target on CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, Evercore ISI cut their price objective on CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $33.95.

Get Our Latest Analysis on CSX

CSX Stock Up 1.2 %

Shares of CSX stock opened at $27.78 on Wednesday. The company has a market cap of $52.19 billion, a P/E ratio of 15.52, 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 current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $29.85 and a 200 day moving average price of $32.40.

CSX (NASDAQ:CSX – Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company 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%. As a group, analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.87%. CSX’s dividend payout ratio is 31.14%.

About CSX

(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.

Further Reading

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