River Road Asset Management LLC Acquires New Stake in CSX Co. (NASDAQ:CSX)

River Road Asset Management LLC acquired a new stake in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,452,163 shares of the transportation company’s stock, valued at approximately $46,861,000. River Road Asset Management LLC owned 0.08% of CSX as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after acquiring an additional 6,730,316 shares during the period. Raymond James Financial Inc. acquired a new stake in CSX during the 4th quarter worth about $85,959,000. Perpetual Ltd acquired a new stake in CSX during the 4th quarter worth about $83,301,000. FMR LLC grew its holdings in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the period. Finally, KBC Group NV grew its holdings in CSX by 616.4% during the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after acquiring an additional 958,957 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock opened at $30.65 on Tuesday. CSX Co. has a 52 week low of $30.55 and a 52 week high of $38.35. The company’s 50 day moving average price is $32.45 and its two-hundred day moving average price is $33.61. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a market cap of $58.07 billion, a P/E ratio of 17.12, a P/E/G ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, equities analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analysts Set New Price Targets

A number of analysts have weighed in on CSX shares. Susquehanna decreased their price target on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada reduced their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. BMO Capital Markets reduced their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Barclays reduced their target price on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday. They issued a “hold” rating and a $34.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.