OMERS ADMINISTRATION Corp Acquires 13,880 Shares of CSX Co. (NASDAQ:CSX)

OMERS ADMINISTRATION Corp grew its stake in shares of CSX Co. (NASDAQ:CSX) by 20.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 82,555 shares of the transportation company’s stock after purchasing an additional 13,880 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in CSX were worth $2,664,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX in the 4th quarter valued at $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of CSX in the fourth quarter worth about $31,000. Sierra Ocean LLC bought a new position in CSX during the fourth quarter valued at approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in CSX by 219.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 714 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 1.6%

Shares of NASDAQ:CSX opened at $31.03 on Thursday. The company has a market capitalization of $58.29 billion, a PE ratio of 17.34, a P/E/G ratio of 1.92 and a beta of 1.22. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The business’s fifty day simple moving average is $28.76 and its 200-day simple moving average is $31.81.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio is currently 31.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSX. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Evercore ISI decreased their price target on CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and issued a $33.00 price objective (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. JPMorgan Chase & Co. reduced their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Finally, Robert W. Baird lowered their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $33.90.

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.