MUFG Securities EMEA plc Buys New Shares in CSX Co. (NASDAQ:CSX)

MUFG Securities EMEA plc bought a new stake in CSX Co. (NASDAQ:CSXFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 149,999 shares of the transportation company’s stock, valued at approximately $5,200,000.

Several other hedge funds have also made changes to their positions in CSX. Norges Bank acquired a new stake in shares of CSX during the fourth quarter worth approximately $757,276,000. Lazard Asset Management LLC increased its holdings in shares of 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 purchasing an additional 2,748,738 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of CSX by 68.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the transportation company’s stock valued at $160,970,000 after purchasing an additional 2,119,965 shares in the last quarter. Barclays PLC increased its holdings in shares of CSX by 29.0% in the third quarter. Barclays PLC now owns 7,160,597 shares of the transportation company’s stock valued at $220,189,000 after purchasing an additional 1,609,942 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of CSX by 43.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock valued at $146,128,000 after purchasing an additional 1,446,685 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.8 %

Shares of CSX stock traded up $0.28 during trading hours on Friday, reaching $33.78. 8,854,602 shares of the company’s stock were exchanged, compared to its average volume of 10,757,137. The company has a 50 day moving average of $35.03 and a two-hundred day moving average of $34.97. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The stock has a market cap of $66.04 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.75 and a beta of 1.19.

CSX (NASDAQ:CSXGet Free Report) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 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 period in the prior year, the business posted $0.48 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. CSX’s payout ratio is 26.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. Susquehanna raised their price target on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Thursday, April 18th. Jefferies Financial Group reduced their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Finally, UBS Group reduced their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Check Out Our Latest Analysis on CSX

CSX Company Profile

(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.

See Also

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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