Canada Pension Plan Investment Board Raises Position in CSX Co. (NASDAQ:CSX)

Canada Pension Plan Investment Board increased its holdings in CSX Co. (NASDAQ:CSX) by 58.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,336,019 shares of the transportation company’s stock after purchasing an additional 858,387 shares during the quarter. Canada Pension Plan Investment Board’s holdings in CSX were worth $86,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised 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 during the period. PFG Advisors increased its position in shares of CSX by 2.1% in the first quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after acquiring an additional 387 shares during the period. Partners Group Holding AG increased its position in shares of CSX by 26.8% in the fourth quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock valued at $24,427,000 after acquiring an additional 149,105 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CSX by 5.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock valued at $25,078,000 after acquiring an additional 34,730 shares during the period. Finally, Sapient Capital LLC purchased a new position in shares of CSX in the fourth quarter valued at about $1,279,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 2.1 %

NASDAQ:CSX traded up $0.72 during mid-day trading on Friday, hitting $34.32. 9,975,650 shares of the company’s stock were exchanged, compared to its average volume of 10,388,902. 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 current ratio of 1.15 and a quick ratio of 1.00. The business has a fifty day moving average price of $33.45 and a 200 day moving average price of $35.04. The company has a market cap of $67.09 billion, a PE ratio of 18.86, a P/E/G ratio of 1.82 and a beta of 1.20.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, August 30th. CSX’s payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSX. Jefferies Financial Group decreased their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. UBS Group decreased their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Royal Bank of Canada decreased their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Sanford C. Bernstein boosted their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Finally, Stifel Nicolaus lifted their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.14.

CSX Company 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.