Alberta Investment Management Corp Grows Stock Position in CSX Co. (NASDAQ:CSX)

Alberta Investment Management Corp lifted its position in CSX Co. (NASDAQ:CSX) by 36.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 342,026 shares of the transportation company’s stock after purchasing an additional 90,464 shares during the quarter. Alberta Investment Management Corp’s holdings in CSX were worth $11,037,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. raised its position in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new position in CSX during the third quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new position in CSX during the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. raised its position in CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares in the last quarter. Finally, Addison Advisors LLC raised its position in CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock opened at $32.41 on Thursday. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The stock’s fifty day simple moving average is $32.67 and its 200-day simple moving average is $33.78. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $62.50 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. Equities research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio (DPR) is 29.05%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. Citigroup reduced their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company dropped their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Friday, January 10th. Finally, BMO Capital Markets dropped their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $37.16.

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.