Canada Pension Plan Investment Board Has $112.54 Million Stake in CSX Co. (NASDAQ:CSX)

Canada Pension Plan Investment Board grew its stake in shares of CSX Co. (NASDAQ:CSX) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,487,409 shares of the transportation company’s stock after buying an additional 366,419 shares during the period. Canada Pension Plan Investment Board owned approximately 0.18% of CSX worth $112,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased 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 purchasing an additional 726,507 shares in the last quarter. Invesco Ltd. increased its position in shares of CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock valued at $810,076,000 after buying an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC raised its stake in CSX by 1.2% during the 4th 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 bought a new position in CSX during the fourth quarter worth about $780,194,000. Finally, Bank of New York Mellon Corp grew its stake in CSX by 40.5% in 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 during the period. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CSX. Benchmark reiterated a “buy” rating and set a $35.00 price objective on shares of CSX in a report on Thursday. Barclays reduced their price target on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday. Stifel Nicolaus cut their price objective on shares of CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, Bank of America dropped their price target on CSX from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.95.

CSX Stock Up 1.1 %

CSX stock opened at $27.64 on Friday. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The firm has a market capitalization of $52.09 billion, a PE ratio of 15.44, a P/E/G ratio of 1.92 and a beta of 1.23. The company’s 50-day moving average is $30.18 and its 200-day moving average is $32.55. 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 (NASDAQ:CSX) last issued 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). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. Sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 31.14%.

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.