Charles Schwab Investment Management Inc. Purchases 135,169 Shares of CSX Co. (NASDAQ:CSX)

Charles Schwab Investment Management Inc. lifted its holdings in CSX Co. (NASDAQ:CSX) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,217,832 shares of the transportation company’s stock after acquiring an additional 135,169 shares during the period. Charles Schwab Investment Management Inc. owned 0.57% of CSX worth $388,922,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Verdence Capital Advisors LLC increased its holdings in CSX by 21.7% during the third quarter. Verdence Capital Advisors LLC now owns 9,235 shares of the transportation company’s stock valued at $284,000 after buying an additional 1,648 shares during the period. Mackenzie Financial Corp lifted its stake in CSX by 7.3% during the 3rd quarter. Mackenzie Financial Corp now owns 190,890 shares of the transportation company’s stock valued at $5,874,000 after acquiring an additional 13,055 shares during the period. Brighton Jones LLC lifted its holdings in CSX by 6.5% in the third quarter. Brighton Jones LLC now owns 11,820 shares of the transportation company’s stock valued at $363,000 after acquiring an additional 720 shares during the period. Strs Ohio grew its position in shares of CSX by 5.1% during the 3rd quarter. Strs Ohio now owns 608,021 shares of the transportation company’s stock valued at $18,696,000 after acquiring an additional 29,297 shares during the period. Finally, Park Avenue Securities LLC raised its stake in shares of CSX by 3.5% during the 3rd quarter. Park Avenue Securities LLC now owns 61,034 shares of the transportation company’s stock worth $1,877,000 after buying an additional 2,068 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX stock traded up $0.05 during mid-day trading on Wednesday, hitting $34.01. 3,235,075 shares of the stock were exchanged, compared to its average volume of 12,139,962. The stock’s fifty day simple moving average is $36.06 and its two-hundred day simple moving average is $34.64. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The stock has a market capitalization of $66.49 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 2.03 and a beta of 1.19.

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

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Susquehanna lifted their price target on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Raymond James lifted their price target on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Stifel Nicolaus increased 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. Bank of America cut their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Jefferies Financial Group dropped their price objective on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

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.