1,452,163 Shares in CSX Co. (NASDAQ:CSX) Acquired by River Road Asset Management LLC

River Road Asset Management LLC purchased a new position in CSX Co. (NASDAQ:CSX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,452,163 shares of the transportation company’s stock, valued at approximately $46,861,000.

A number of other hedge funds have also bought and sold shares of CSX. Valley Wealth Managers Inc. grew its stake in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in CSX in the 4th quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new position in CSX in the 4th quarter valued at approximately $33,000. Center for Financial Planning Inc. grew its stake in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares in the last quarter. Finally, Addison Advisors LLC grew its stake in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ CSX opened at $30.65 on Tuesday. CSX Co. has a 52-week low of $30.55 and a 52-week high of $38.35. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market capitalization of $58.07 billion, a P/E ratio of 17.12, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a fifty day moving average of $32.45 and a 200-day moving average of $33.61.

CSX (NASDAQ:CSX) last posted its quarterly 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%. As a group, equities research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.70%. CSX’s payout ratio is currently 29.05%.

Analysts Set New Price Targets

CSX has been the subject of a number of recent research reports. Raymond James reiterated an “outperform” rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company reduced their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. BMO Capital Markets reduced their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research report on Friday. They set a “hold” rating and a $34.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $37.00.

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.