Norges Bank Takes $780.19 Million Position in CSX Co. (NASDAQ:CSX)

Norges Bank acquired a new position in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,177,080 shares of the transportation company’s stock, valued at approximately $780,194,000. Norges Bank owned approximately 1.25% of CSX as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of CSX during the 4th quarter worth $31,000. Sierra Ocean LLC bought a new stake in shares of CSX in the 4th quarter valued at about $33,000. Center for Financial Planning Inc. boosted its holdings in shares of 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. Atala Financial Inc purchased a new position in shares of CSX in the 4th quarter worth approximately $36,000. Finally, Millstone Evans Group LLC bought a new position in shares of CSX during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSX. Stephens reaffirmed an “overweight” rating and issued a $38.00 price target on shares of CSX in a report on Friday, January 24th. Robert W. Baird decreased their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of CSX in a report on Monday, January 27th. Susquehanna decreased their price objective on shares of CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Thursday. Finally, Raymond James reiterated an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

CSX Stock Up 0.1 %

Shares of CSX stock opened at $29.92 on Friday. 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 $37.18. The stock has a 50 day moving average of $31.82 and a 200 day moving average of $33.23. The stock has a market cap of $56.69 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, sell-side analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given 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 dividend on an annualized basis and a dividend yield of 1.74%. CSX’s dividend payout ratio (DPR) is 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.