River Global Investors LLP Makes New $373,000 Investment in CSX Co. (NASDAQ:CSX)

River Global Investors LLP purchased a new stake in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,754 shares of the transportation company’s stock, valued at approximately $373,000.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC grew its stake in CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after acquiring an additional 2,748,738 shares during the period. Morgan Stanley grew its position in shares of CSX by 3.1% in the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after purchasing an additional 739,411 shares during the period. Fisher Asset Management LLC increased its stake in CSX by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock worth $775,855,000 after purchasing an additional 470,640 shares in the last quarter. Northern Trust Corp raised its holdings in CSX by 1.4% during the 3rd quarter. Northern Trust Corp now owns 21,307,242 shares of the transportation company’s stock worth $655,198,000 after buying an additional 303,684 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in CSX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,082,663 shares of the transportation company’s stock valued at $340,792,000 after buying an additional 56,856 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Performance

CSX stock traded down $0.11 during midday trading on Monday, reaching $33.74. 4,233,104 shares of the company’s stock were exchanged, compared to its average volume of 12,217,703. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock’s 50-day simple moving average is $36.23 and its 200 day simple moving average is $34.59. The firm has a market cap of $65.96 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 2.03 and a beta of 1.19. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

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

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.12 per share. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CSX. UBS Group lowered their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. BMO Capital Markets boosted their price target on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. TD Cowen increased their price objective on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Stifel Nicolaus lifted their target price on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Jefferies Financial Group reduced their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

CSX 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.