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

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

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in CSX in the 4th quarter valued at $27,000. Life Planning Partners Inc bought a new position in CSX in the 4th quarter valued at $27,000. Fortis Capital Advisors LLC bought a new position in CSX in the 4th quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new position in CSX in the 4th quarter valued at $34,000. Finally, Venturi Wealth Management LLC boosted its holdings in CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 692 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSX. Jefferies Financial Group cut their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday. TD Cowen lifted their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. BMO Capital Markets lifted their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. UBS Group dropped their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday. Finally, Bank of America dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.00.

CSX Stock Performance

CSX stock opened at $34.34 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $67.13 billion, a PE ratio of 18.87, a P/E/G ratio of 2.05 and a beta of 1.18. The firm has a fifty day simple moving average of $36.88 and a two-hundred day simple moving average of $34.40. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts expect that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

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

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.