BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 45,084 Shares of CSX Co. (NASDAQ:CSX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in CSX Co. (NASDAQ:CSX) by 13.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 371,248 shares of the transportation company’s stock after purchasing an additional 45,084 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CSX were worth $11,980,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CSX. Ameritas Advisory Services LLC grew its position in CSX by 88.5% during the fourth quarter. Ameritas Advisory Services LLC now owns 11,250 shares of the transportation company’s stock valued at $363,000 after buying an additional 5,281 shares during the period. Pure Financial Advisors LLC bought a new stake in CSX in the 4th quarter valued at $221,000. Bartlett & CO. Wealth Management LLC increased its holdings in CSX by 37.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 130,273 shares of the transportation company’s stock valued at $4,204,000 after acquiring an additional 35,206 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of CSX by 69.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 1,179,081 shares of the transportation company’s stock worth $38,049,000 after buying an additional 482,277 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its holdings in shares of CSX by 4.5% in the 4th quarter. Wesbanco Bank Inc. now owns 62,477 shares of the transportation company’s stock worth $2,016,000 after buying an additional 2,672 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $35.00 target price on shares of CSX in a report on Thursday, April 17th. Bank of America boosted their target price on shares of CSX from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. Evercore ISI reduced their target price on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. BMO Capital Markets reduced their target price on shares of CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Finally, UBS Group dropped their price target on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.90.

CSX Price Performance

CSX stock opened at $30.64 on Friday. The stock has a market cap of $57.56 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The firm has a 50-day moving average of $28.90 and a two-hundred day moving average of $31.71.

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

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.70%. CSX’s payout ratio is presently 31.14%.

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.