CSX Co. (NASDAQ:CSX) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 510,403 shares of the transportation company’s stock after buying an additional 6,010 shares during the quarter. MetLife Investment Management LLC’s holdings in CSX were worth $16,471,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CSX. Geode Capital Management LLC raised its holdings in CSX by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after acquiring an additional 726,507 shares during the last quarter. Invesco Ltd. grew its position in shares of CSX by 13.5% in the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock valued at $810,076,000 after purchasing an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of CSX by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after purchasing an additional 299,536 shares in the last quarter. Norges Bank acquired a new stake in shares of CSX in the fourth quarter valued at approximately $780,194,000. Finally, Bank of New York Mellon Corp lifted its position in CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSX. Jefferies Financial Group cut their target price on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Evercore ISI reduced their target price on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays dropped their price target on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday. UBS Group reduced their price target on shares of CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday. Seven 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.95.

CSX Stock Up 1.1 %

Shares of NASDAQ CSX opened at $27.64 on Monday. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The stock has a market cap of $52.09 billion, a P/E ratio of 15.44, a PEG ratio of 1.92 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The business’s fifty day simple moving average is $30.07 and its 200-day simple moving average is $32.48.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. As a group, equities analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 31.14%.

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.