ClearBridge Investments Ltd Purchases 362,461 Shares of CSX Co. (NASDAQ:CSX)

ClearBridge Investments Ltd raised its position in CSX Co. (NASDAQ:CSX) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,785,577 shares of the transportation company’s stock after acquiring an additional 362,461 shares during the period. CSX makes up approximately 3.2% of ClearBridge Investments Ltd’s holdings, making the stock its 14th biggest holding. ClearBridge Investments Ltd owned 0.20% of CSX worth $122,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after buying an additional 455,258 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CSX by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after purchasing an additional 190,346 shares during the last quarter. Fisher Asset Management LLC grew its position 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 worth $805,345,000 after purchasing an additional 299,536 shares during the last quarter. Norges Bank acquired a new position in CSX during the 4th quarter valued at approximately $780,194,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of CSX by 40.5% in 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 buying an additional 6,730,316 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 2.7 %

NASDAQ CSX opened at $29.11 on Friday. CSX Co. has a one year low of $28.98 and a one year high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The business has a fifty day moving average price of $31.75 and a 200 day moving average price of $33.20. The company has a market cap 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.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Research analysts anticipate 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 given a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.79%. CSX’s dividend payout ratio is 29.05%.

Analysts Set New Price Targets

Several research firms recently issued reports on CSX. Citigroup cut their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada reduced their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company cut their price target on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday. Susquehanna lowered their price target on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a report on Thursday. Finally, Raymond James reiterated an “outperform” rating and set a $37.00 price objective (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.75.

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.