Harvest Fund Management Co. Ltd Buys 1,576 Shares of CSX Co. (NASDAQ:CSX)

Harvest Fund Management Co. Ltd increased its holdings in CSX Co. (NASDAQ:CSX) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,365 shares of the transportation company’s stock after acquiring an additional 1,576 shares during the period. Harvest Fund Management Co. Ltd’s holdings in CSX were worth $564,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CSX. Lazard Asset Management LLC lifted 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 purchasing an additional 2,748,738 shares during the last quarter. Morgan Stanley lifted its stake in CSX by 3.1% in the third 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 last quarter. Northern Trust Corp lifted its stake in CSX by 1.4% in the third quarter. Northern Trust Corp now owns 21,307,242 shares of the transportation company’s stock valued at $655,198,000 after purchasing an additional 303,684 shares during the last quarter. 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 purchasing an additional 56,856 shares during the last quarter. Finally, Maj Invest Holding A S lifted its stake in CSX by 19.8% in the third quarter. Maj Invest Holding A S now owns 8,383,233 shares of the transportation company’s stock valued at $257,785,000 after purchasing an additional 1,383,086 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 3.0 %

Shares of CSX traded down $1.05 on Wednesday, hitting $33.67. 23,748,579 shares of the stock traded hands, compared to its average volume of 12,377,756. The company has a market capitalization of $65.82 billion, a PE ratio of 19.08, a P/E/G ratio of 2.07 and a beta of 1.18. 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 business has a 50 day simple moving average of $36.79 and a 200 day simple moving average of $34.45. CSX Co. has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, equities analysts forecast 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. Shareholders of record on Thursday, February 29th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is 26.37%.

Analyst Upgrades and Downgrades

CSX has been the topic of several research analyst reports. Raymond James upped their price objective on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Stifel Nicolaus increased their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Bank of America dropped their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Jefferies Financial Group dropped their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.00.

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.