Pictet Asset Management Holding SA Has $36.46 Million Position in CSX Co. (NASDAQ:CSX)

Pictet Asset Management Holding SA boosted its stake in CSX Co. (NASDAQ:CSX) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,129,708 shares of the transportation company’s stock after purchasing an additional 81,429 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of CSX worth $36,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Public Sector Pension Investment Board lifted its holdings in shares of CSX by 10.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 82,276 shares of the transportation company’s stock worth $2,841,000 after purchasing an additional 7,700 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of CSX in the third quarter valued at $14,261,000. Erste Asset Management GmbH acquired a new position in shares of CSX during the third quarter valued at about $2,204,000. B&L Asset Management LLC bought a new stake in shares of CSX during the third quarter worth about $264,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of CSX in the 3rd quarter worth about $43,000. 73.57% of the stock is owned by institutional investors.

CSX Trading Down 2.7 %

Shares of CSX stock opened at $29.11 on Monday. CSX Co. has a 12-month low of $28.98 and a 12-month high of $37.10. 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 company has a 50 day moving average of $31.75 and a 200-day moving average of $33.20. The firm has a market cap of $54.86 billion, a P/E ratio of 16.26, a PEG ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. 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. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Benchmark reissued a “buy” rating and set a $38.00 price objective on shares of CSX in a report on Monday, January 27th. Robert W. Baird decreased their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. BMO Capital Markets dropped their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Citigroup reduced their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Susquehanna dropped their price target on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.75.

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.