Allianz SE Makes New Investment in CSX Co. (NASDAQ:CSX)

Allianz SE purchased a new position in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 211,035 shares of the transportation company’s stock, valued at approximately $6,787,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Transamerica Financial Advisors Inc. raised its position in shares of CSX by 100.7% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 3,834 shares of the transportation company’s stock valued at $124,000 after buying an additional 1,924 shares during the last quarter. Allstate Corp purchased a new stake in shares of CSX during the 4th quarter valued at approximately $1,857,000. DnB Asset Management AS raised its position in CSX by 4.3% in the fourth quarter. DnB Asset Management AS now owns 897,913 shares of the transportation company’s stock valued at $28,976,000 after purchasing an additional 37,111 shares during the period. Level Four Advisory Services LLC lifted its stake in shares of CSX by 17.0% in the 4th quarter. Level Four Advisory Services LLC now owns 9,990 shares of the transportation company’s stock valued at $322,000 after purchasing an additional 1,449 shares during the last quarter. Finally, denkapparat Operations GmbH purchased a new position in shares of CSX during the 4th quarter worth $207,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX stock opened at $29.11 on Friday. The company has a market cap of $54.86 billion, a P/E ratio of 16.26, a PEG ratio of 1.92 and a beta of 1.25. The firm has a fifty day moving average price of $31.75 and a 200 day moving average price of $33.20. 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 12 month low of $28.98 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal 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 given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

Wall Street Analyst Weigh In

A number of research firms have commented on CSX. Robert W. Baird decreased their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Barclays lowered their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Friday, January 10th. Wells Fargo & Company lowered their price target on CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Raymond James reiterated an “outperform” rating and issued a $37.00 price objective (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $36.75.

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.