AIA Group Ltd Raises Stake in CSX Co. (NASDAQ:CSX)

AIA Group Ltd grew its stake in CSX Co. (NASDAQ:CSX) by 46.1% during the 4th quarter, HoldingsChannel reports. The firm owned 10,573 shares of the transportation company’s stock after buying an additional 3,336 shares during the quarter. AIA Group Ltd’s holdings in CSX were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Value Partners Investments Inc. purchased a new stake in CSX in the 3rd quarter worth approximately $1,172,000. Morgan Stanley boosted its position in CSX by 3.1% in the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares in the last quarter. International Assets Investment Management LLC boosted its position in CSX by 3,241.9% in the 4th quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock worth $8,158,000 after purchasing an additional 228,263 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CSX by 5.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock worth $25,078,000 after purchasing an additional 34,730 shares in the last quarter. Finally, Sapient Capital LLC purchased a new stake in CSX in the 4th quarter worth approximately $1,279,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. TD Cowen increased their target price on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Jefferies Financial Group decreased their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday. UBS Group decreased their target price on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, BMO Capital Markets increased their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.72.

CSX Stock Down 0.1 %

NASDAQ CSX opened at $34.34 on Friday. The business has a fifty day moving average price of $36.88 and a 200 day moving average price of $34.35. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.91 and a current ratio of 1.15. The company has a market cap of $67.22 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.00 and a beta of 1.18.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the company earned $0.48 EPS. The firm’s revenue was down .8% compared to the same quarter last year. Research analysts anticipate that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. CSX’s dividend payout ratio (DPR) is 26.37%.

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.