Russell Investments Group Ltd. Has $81.62 Million Position in CSX Co. (NASDAQ:CSX)

Russell Investments Group Ltd. boosted its position in CSX Co. (NASDAQ:CSX) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,529,936 shares of the transportation company’s stock after buying an additional 264,670 shares during the quarter. Russell Investments Group Ltd.’s holdings in CSX were worth $81,619,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CSX. Norges Bank bought a new stake in CSX during the 4th quarter worth about $780,194,000. Bank of New York Mellon Corp increased its position in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in CSX by 471.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after acquiring an additional 5,568,624 shares in the last quarter. Raymond James Financial Inc. acquired a new position in CSX during the fourth quarter valued at approximately $85,959,000. Finally, Perpetual Ltd bought a new position in CSX in the fourth quarter valued at approximately $83,301,000. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Robert W. Baird cut their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. BMO Capital Markets cut their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Raymond James restated an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday, January 24th. JPMorgan Chase & Co. cut their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Stephens reiterated an “overweight” rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

CSX Stock Down 2.8 %

Shares of CSX opened at $27.21 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. The stock has a market capitalization of $51.28 billion, a PE ratio of 15.20, a P/E/G ratio of 1.92 and a beta of 1.22. The firm’s 50 day moving average is $31.32 and its 200-day moving average is $33.03. CSX Co. has a 12 month low of $26.95 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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 EPS for the current 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 paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. 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%.

About CSX

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.