CSX Co. (NASDAQ:CSX) Shares Bought by MetLife Investment Management LLC

by · The Markets Daily

MetLife Investment Management LLC lifted its position in shares of CSX Co. (NASDAQ:CSX – Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 510,403 shares of the transportation company’s stock after purchasing an additional 6,010 shares during the period. MetLife Investment Management LLC’s holdings in CSX were worth $16,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CSX. Norinchukin Bank The increased its position in CSX by 2.2% during the fourth quarter. Norinchukin Bank The now owns 92,544 shares of the transportation company’s stock worth $2,986,000 after buying an additional 2,027 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in CSX by 56.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 68,532 shares of the transportation company’s stock valued at $2,212,000 after purchasing an additional 24,764 shares during the last quarter. Capital International Inc. CA boosted its stake in CSX by 7.1% during the 4th quarter. Capital International Inc. CA now owns 262,925 shares of the transportation company’s stock worth $8,485,000 after purchasing an additional 17,488 shares during the period. Capital Research Global Investors grew its position in CSX by 4.3% during the 4th quarter. Capital Research Global Investors now owns 9,198,310 shares of the transportation company’s stock worth $296,829,000 after purchasing an additional 381,228 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in CSX by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,886,109 shares of the transportation company’s stock valued at $544,904,000 after purchasing an additional 1,215,517 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 1.1 %

Shares of CSX stock opened at $27.64 on Monday. 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. The business has a 50 day moving average price of $30.07 and a 200 day moving average price of $32.48. The company has a market capitalization of $52.09 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX – Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion during 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%. 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. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.88%. CSX’s dividend payout ratio is presently 31.14%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CSX shares. Royal Bank of Canada lowered their price target on CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Benchmark reissued a “buy” rating and issued a $35.00 price objective on shares of CSX in a research note on Thursday. Evercore ISI reduced their target price on shares of CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group dropped their price target on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.95.

Get Our Latest Stock Report on CSX

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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