Oppenheimer Asset Management Inc. Increases Stake in CSX Co. (NASDAQ:CSX)

Oppenheimer Asset Management Inc. raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 239,407 shares of the transportation company’s stock after purchasing an additional 12,458 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in CSX were worth $7,726,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its holdings in CSX by 0.6% during the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after purchasing an additional 455,258 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CSX by 0.5% in the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after buying an additional 190,346 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after acquiring an additional 857,302 shares during the period. Bank of New York Mellon Corp grew its stake in 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 valued at $753,507,000 after acquiring an additional 6,730,316 shares in the last quarter. Finally, FMR LLC increased its holdings in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CSX shares. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of CSX in a report on Monday, January 27th. Citigroup dropped their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Raymond James restated an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Finally, Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Stock Down 0.0 %

Shares of NASDAQ:CSX opened at $32.01 on Friday. CSX Co. has a 12-month low of $31.43 and a 12-month high of $38.61. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock’s 50-day moving average price is $32.60 and its 200-day moving average price is $33.70. The stock has a market capitalization of $61.72 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, equities analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio is currently 29.05%.

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.