CSX Co. (NASDAQ:CSX) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in shares of CSX Co. (NASDAQ:CSX) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,511,225 shares of the transportation company’s stock after purchasing an additional 41,048 shares during the period. Russell Investments Group Ltd.’s holdings in CSX were worth $52,403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC increased its position in CSX by 10.4% during the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares during the last quarter. Morgan Stanley increased its position in CSX by 3.1% during the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares during the last quarter. Northern Trust Corp increased its position in CSX by 1.4% during the third quarter. Northern Trust Corp now owns 21,307,242 shares of the transportation company’s stock worth $655,198,000 after purchasing an additional 303,684 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in CSX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,082,663 shares of the transportation company’s stock worth $340,792,000 after purchasing an additional 56,856 shares during the last quarter. Finally, Maj Invest Holding A S increased its position in CSX by 19.8% during the third quarter. Maj Invest Holding A S now owns 8,383,233 shares of the transportation company’s stock worth $257,785,000 after purchasing an additional 1,383,086 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 0.1 %

Shares of CSX stock opened at $33.99 on Monday. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a 50 day moving average of $36.61 and a 200 day moving average of $34.51. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $66.45 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.04 and a beta of 1.18.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts forecast that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSX. Raymond James lifted their price target on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Susquehanna lifted their price target on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. Bank of America dropped their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group dropped their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

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.