Value Partners Investments Inc. Has $1.94 Million Stake in CSX Co. (NASDAQ:CSX)

Value Partners Investments Inc. raised its stake in CSX Co. (NASDAQ:CSX) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,027 shares of the transportation company’s stock after buying an additional 1,770 shares during the quarter. Value Partners Investments Inc.’s holdings in CSX were worth $1,936,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after buying an additional 726,507 shares during the period. Invesco Ltd. boosted its position in shares of CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after buying an additional 2,977,212 shares during the period. Fisher Asset Management LLC boosted its position in shares of CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after buying an additional 299,536 shares during the period. Norges Bank acquired a new position in shares of CSX during the fourth quarter worth about $780,194,000. Finally, Bank of New York Mellon Corp boosted its position in shares of CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Jefferies Financial Group reduced their price target on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Barclays reduced their price target on CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and issued a $33.00 price objective (down from $34.00) on shares of CSX in a research report on Thursday, April 17th. Bank of America raised their price objective on CSX from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, May 12th. Finally, Susquehanna dropped their price target on CSX from $37.00 to $35.00 and set a “positive” rating for the company in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $33.90.

CSX Stock Up 0.6%

Shares of CSX opened at $30.82 on Friday. The company has a market capitalization of $57.90 billion, a PE ratio of 17.22, a PEG ratio of 1.92 and a beta of 1.22. CSX Co. has a 12 month low of $26.22 and a 12 month high of $37.10. The stock’s 50-day moving average price is $28.91 and its two-hundred day moving average price is $31.65. 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 (NASDAQ:CSX) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s payout ratio is presently 31.14%.

CSX Company 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.