Geode Capital Management LLC Buys 726,507 Shares of CSX Co. (NASDAQ:CSX)

Geode Capital Management LLC raised its stake in shares of CSX Co. (NASDAQ:CSX) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,633,333 shares of the transportation company’s stock after acquiring an additional 726,507 shares during the period. Geode Capital Management LLC’s holdings in CSX were worth $1,339,555,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CSX. SBI Securities Co. Ltd. bought a new position in shares of CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new stake in shares of CSX during the 4th quarter worth $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 worth $35,000 after buying an additional 720 shares during the last quarter. Meeder Asset Management Inc. grew its position in CSX by 216.2% during the fourth quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock valued at $35,000 after buying an additional 746 shares during the period. Finally, Atala Financial Inc purchased a new stake in CSX during the fourth quarter worth about $36,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Up 0.4 %

CSX opened at $29.54 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a one year low of $28.98 and a one year high of $37.10. The firm has a market capitalization of $55.68 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a fifty day moving average price of $31.61 and a 200-day moving average price of $33.14.

CSX (NASDAQ:CSX) last posted 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 return on equity of 28.15% and a net margin of 23.95%. Equities research analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Analyst Ratings Changes

A number of research analysts have weighed in on CSX shares. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Stephens reiterated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Friday, January 10th. Robert W. Baird dropped their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Wells Fargo & Company cut their price target on CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.75.

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.