Cullen Capital Management LLC Acquires 631 Shares of CSX Co. (NASDAQ:CSX)

Cullen Capital Management LLC increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 42,269 shares of the transportation company’s stock after acquiring an additional 631 shares during the period. Cullen Capital Management LLC’s holdings in CSX were worth $1,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSX. Geode Capital Management LLC raised its stake in CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock worth $1,339,555,000 after acquiring an additional 726,507 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after purchasing an additional 299,536 shares in the last quarter. Norges Bank bought a new position in CSX during the 4th quarter valued at about $780,194,000. Bank of New York Mellon Corp boosted its position in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CSX by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,950,185 shares of the transportation company’s stock worth $385,632,000 after buying an additional 358,042 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Raymond James reiterated an “outperform” rating and issued a $37.00 price objective (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Wells Fargo & Company decreased their target price on CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Royal Bank of Canada cut their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Finally, Citigroup decreased their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

CSX Stock Down 2.8 %

Shares of CSX stock opened at $27.21 on Friday. The business has a fifty day simple moving average of $31.32 and a 200 day simple moving average of $33.03. The stock has a market cap of $51.28 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 12 month low of $26.95 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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%. Research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.91%. CSX’s dividend payout ratio (DPR) is 29.05%.

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.