KLP Kapitalforvaltning AS Acquires New Position in CSX Co. (NASDAQ:CSX)

KLP Kapitalforvaltning AS bought a new position in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 699,916 shares of the transportation company’s stock, valued at approximately $22,586,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. Knights of Columbus Asset Advisors LLC raised its position in CSX by 1.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 183,793 shares of the transportation company’s stock worth $5,931,000 after acquiring an additional 3,402 shares in the last quarter. Sei Investments Co. increased its holdings in shares of CSX by 17.9% in the 4th quarter. Sei Investments Co. now owns 1,271,430 shares of the transportation company’s stock valued at $41,028,000 after purchasing an additional 193,353 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of CSX by 20.8% in the fourth quarter. American Century Companies Inc. now owns 5,221,868 shares of the transportation company’s stock valued at $168,510,000 after purchasing an additional 899,665 shares during the period. Mizuho Securities USA LLC boosted its holdings in CSX by 45.4% during the fourth quarter. Mizuho Securities USA LLC now owns 182,770 shares of the transportation company’s stock worth $5,898,000 after buying an additional 57,053 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in CSX during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CSX. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Royal Bank of Canada decreased their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Finally, Barclays dropped their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Performance

NASDAQ CSX opened at $29.57 on Friday. The business’s 50-day moving average price is $32.03 and its 200 day moving average price is $33.35. 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 Co. has a twelve month low of $28.98 and a twelve month high of $37.40. The company has a market capitalization of $56.02 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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%. On average, research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.76%. CSX’s payout ratio is currently 29.05%.

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.