Handelsbanken Fonder AB Acquires 262,212 Shares of CSX Co. (NASDAQ:CSX)

Handelsbanken Fonder AB boosted its holdings in shares of CSX Co. (NASDAQ:CSX) by 33.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,039,730 shares of the transportation company’s stock after purchasing an additional 262,212 shares during the period. Handelsbanken Fonder AB owned about 0.05% of CSX worth $36,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of CSX during the fourth quarter worth $27,000. Life Planning Partners Inc acquired a new position in shares of CSX during the fourth quarter worth $27,000. Fortis Capital Advisors LLC acquired a new position in shares of CSX during the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of CSX during the fourth quarter worth $34,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of CSX by 228.4% during the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after buying an additional 692 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday. Susquehanna upped their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday. Stifel Nicolaus increased their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Raymond James increased their price objective on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Stock Performance

Shares of CSX stock opened at $34.34 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average price of $36.88 and a two-hundred day moving average price of $34.40. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a market cap of $67.13 billion, a P/E ratio of 18.87, a PEG ratio of 2.05 and a beta of 1.18.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $0.48 EPS. The business’s revenue was down .8% compared to the same quarter last year. As a group, analysts anticipate that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio 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.