Prudential PLC Acquires 56,811 Shares of CSX Co. (NASDAQ:CSX)

Prudential PLC boosted its holdings in CSX Co. (NASDAQ:CSXGet Rating) by 59.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 153,113 shares of the transportation company’s stock after acquiring an additional 56,811 shares during the period. Prudential PLC’s holdings in CSX were worth $5,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CSX. Massachusetts Financial Services Co. MA lifted its holdings in shares of CSX by 0.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 728,337 shares of the transportation company’s stock worth $21,661,000 after buying an additional 5,766 shares in the last quarter. AGF Investments Inc. bought a new stake in CSX in the 3rd quarter valued at about $167,000. King Luther Capital Management Corp boosted its holdings in CSX by 24.2% in the 3rd quarter. King Luther Capital Management Corp now owns 11,544 shares of the transportation company’s stock valued at $343,000 after purchasing an additional 2,250 shares during the period. Parsec Financial Management Inc. boosted its holdings in CSX by 4.9% in the 3rd quarter. Parsec Financial Management Inc. now owns 27,842 shares of the transportation company’s stock valued at $989,000 after purchasing an additional 1,296 shares during the period. Finally, Essex Financial Services Inc. boosted its holdings in CSX by 855.6% in the 3rd quarter. Essex Financial Services Inc. now owns 24,702 shares of the transportation company’s stock valued at $735,000 after purchasing an additional 22,117 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

CSX has been the subject of a number of recent research reports. Susquehanna boosted their price objective on shares of CSX from $44.00 to $45.00 and gave the company a “positive” rating in a report on Thursday, April 21st. Raymond James cut their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Monday, April 18th. Royal Bank of Canada raised shares of CSX from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $37.00 to $39.00 in a report on Thursday, March 17th. Morgan Stanley cut their price target on shares of CSX from $26.00 to $25.00 and set an “underweight” rating for the company in a report on Friday, January 21st. Finally, Susquehanna Bancshares upped their price target on shares of CSX from $44.00 to $45.00 and gave the stock a “positive” rating in a report on Thursday, April 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $38.91.

Shares of CSX traded down $0.96 during trading hours on Wednesday, hitting $32.80. 491,223 shares of the stock were exchanged, compared to its average volume of 15,404,275. CSX Co. has a fifty-two week low of $29.49 and a fifty-two week high of $38.63. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.46 and a quick ratio of 1.32. The business has a 50-day moving average of $35.13 and a 200-day moving average of $35.40. The firm has a market capitalization of $71.32 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.81 and a beta of 1.21.

CSX (NASDAQ:CSXGet Rating) last issued its earnings results on Wednesday, April 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.31 billion. CSX had a net margin of 29.98% and a return on equity of 27.47%. CSX’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. As a group, analysts forecast that CSX Co. will post 1.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, May 27th. CSX’s dividend payout ratio is presently 22.73%.

About CSX (Get Rating)

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 transports chemicals, agricultural and food products, automotive, minerals, 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.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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