Swedbank AB Makes New Investment in CSX Co. (NASDAQ:CSX)

Swedbank AB bought a new stake in shares of CSX Co. (NASDAQ:CSX) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 636,225 shares of the transportation company’s stock, valued at approximately $23,585,000.

A number of other institutional investors have also recently bought and sold shares of CSX. Miracle Mile Advisors LLC increased its stake in shares of CSX by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after purchasing an additional 303 shares during the period. Stratos Wealth Advisors LLC grew its position in CSX by 1.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after acquiring an additional 304 shares during the last quarter. Team Hewins LLC increased its stake in shares of CSX by 1.7% in the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after buying an additional 306 shares in the last quarter. Cornercap Investment Counsel Inc. raised its stake in shares of CSX by 0.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after acquiring an additional 309 shares during the last quarter. Finally, FCA Corp TX raised its position in shares of CSX by 0.3% during the fourth quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock worth $4,007,000 after acquiring an additional 339 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 2.0 %

CSX stock traded down $0.69 during mid-day trading on Friday, reaching $34.08. The company’s stock had a trading volume of 13,305,920 shares, compared to its average volume of 10,860,391. The company has a market cap of $66.62 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The business’s 50 day moving average price is $33.56 and its 200 day moving average price is $35.04. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Susquehanna reduced their price target on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research report on Tuesday, June 25th. Wells Fargo & Company assumed coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. UBS Group decreased their target price on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Stifel Nicolaus raised their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday, July 8th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.14.

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.