Korea Investment CORP Increases Holdings in CSX Co. (NASDAQ:CSX)

Korea Investment CORP increased its position in CSX Co. (NASDAQ:CSX) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,570,501 shares of the transportation company’s stock after acquiring an additional 55,981 shares during the period. Korea Investment CORP’s holdings in CSX were worth $50,680,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Diversified Trust Co raised its position in shares of CSX by 180.7% during the 4th 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 acquired a new position in shares of CSX in the fourth quarter worth $1,084,000. Carnegie Investment Counsel lifted its position in shares of CSX by 1.4% in 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 in the last quarter. Nomura Asset Management Co. Ltd. increased its position in CSX by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after purchasing an additional 41,547 shares in the last quarter. Finally, Waycross Partners LLC raised its stake in CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after purchasing an additional 40,611 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Up 0.1 %

Shares of CSX stock opened at $29.92 on Friday. The company has a fifty day moving average price of $31.82 and a 200 day moving average price of $33.23. 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 market cap of $56.69 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 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%. Equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.74%. This is a positive change 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 (DPR) is presently 29.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CSX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. Stephens reaffirmed an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Finally, Susquehanna decreased their price target on CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.