American Century Companies Inc. Has $168.51 Million Stake in CSX Co. (NASDAQ:CSX)

American Century Companies Inc. lifted its position in CSX Co. (NASDAQ:CSX) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,221,868 shares of the transportation company’s stock after purchasing an additional 899,665 shares during the quarter. American Century Companies Inc. owned 0.27% of CSX worth $168,510,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State Street Corp raised its stake in CSX by 0.6% during the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after acquiring an additional 455,258 shares in the last quarter. Geode Capital Management LLC raised its stake in CSX by 0.5% during the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after acquiring an additional 190,346 shares in the last quarter. Fisher Asset Management LLC raised its stake in CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after acquiring an additional 299,536 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 worth $753,507,000 after acquiring an additional 6,730,316 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of CSX by 10.2% during the third 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. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on CSX shares. Loop Capital cut CSX from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Susquehanna decreased their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Benchmark restated a “buy” rating and set a $38.00 target price on shares of CSX in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 target price on the stock. Finally, Royal Bank of Canada decreased their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Price Performance

Shares of CSX opened at $29.57 on Friday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.40. The stock has a market cap of $56.02 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The stock’s 50-day moving average price is $32.03 and its two-hundred day moving average price is $33.35.

CSX (NASDAQ:CSX) last issued its earnings results 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%. On average, equities analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.76%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 29.05%.

About CSX

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.