Vanguard Group Inc. Buys 319,770 Shares of CSX Co. (NASDAQ:CSX)

Vanguard Group Inc. increased its holdings in CSX Co. (NASDAQ:CSX) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 175,484,044 shares of the transportation company’s stock after purchasing an additional 319,770 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of CSX worth $5,662,870,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Diversified Trust Co grew its stake in shares of CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new stake in CSX during the fourth quarter valued at $1,084,000. Carnegie Investment Counsel boosted its position in CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after acquiring an additional 8,474 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in CSX by 6.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after acquiring an additional 41,547 shares during the last quarter. Finally, Waycross Partners LLC boosted its position in CSX by 7.0% during the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after acquiring an additional 40,611 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Trading Down 1.4 %

Shares of CSX stock opened at $29.57 on Monday. CSX Co. has a 52-week low of $28.98 and a 52-week high of $37.40. 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 50-day simple moving average of $32.03 and a two-hundred day simple moving average of $33.34. The company has a market capitalization of $56.02 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.92 and a beta of 1.25.

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

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

Analysts Set New Price Targets

A number of brokerages have commented on CSX. Citigroup cut their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada cut their price target 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. Susquehanna cut their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Stephens reiterated an “overweight” rating and set a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Finally, Raymond James reiterated an “outperform” rating and set a $37.00 price objective (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Seven 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, the company has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.