M&T Bank Corp Has $15.27 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

M&T Bank Corp trimmed its position in CSX Co. (NASDAQ:CSX) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 473,333 shares of the transportation company’s stock after selling 503 shares during the quarter. M&T Bank Corp’s holdings in CSX were worth $15,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Avior Wealth Management LLC lifted its stake in shares of CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after buying an additional 293 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after buying an additional 306 shares during the last quarter. Associated Banc Corp lifted its stake in shares of CSX by 0.6% in the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after buying an additional 310 shares during the last quarter. Joel Isaacson & Co. LLC lifted its stake in shares of CSX by 2.4% in the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after buying an additional 310 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its position in CSX by 1.0% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after acquiring an additional 313 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 0.9 %

Shares of NASDAQ:CSX opened at $30.92 on Thursday. CSX Co. has a 52 week low of $30.62 and a 52 week high of $38.51. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company’s fifty day moving average is $32.53 and its 200-day moving average is $33.66. The company has a market capitalization of $59.63 billion, a PE ratio of 17.27, a P/E/G ratio of 1.92 and a beta of 1.23.

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

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSX. Robert W. Baird dropped their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Friday, January 10th. Raymond James reaffirmed an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Finally, Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.16.

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.