CSX Co. (NASDAQ:CSX) Position Lessened by NBT Bank N A NY

NBT Bank N A NY trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,428 shares of the transportation company’s stock after selling 424 shares during the period. NBT Bank N A NY’s holdings in CSX were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC raised its holdings in shares of CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after acquiring an additional 293 shares in the last quarter. Rehmann Capital Advisory Group increased its position in CSX by 1.3% during 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 increased its position in CSX by 0.6% during 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 increased its position in CSX by 2.4% during 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 buying an additional 313 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Raymond James reissued an “outperform” rating and set a $37.00 target price (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Wells Fargo & Company lowered their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. BMO Capital Markets lowered their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.00.

CSX Stock Down 3.7 %

NASDAQ CSX opened at $29.52 on Wednesday. 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 firm has a 50-day simple moving average of $32.39 and a 200 day simple moving average of $33.58. CSX Co. has a twelve month low of $29.50 and a twelve month high of $38.14. The stock has a market cap of $55.93 billion, a PE ratio of 16.49, a PEG ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced 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 return on equity of 28.15% and a net margin of 23.95%. On average, research analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. CSX’s dividend payout ratio (DPR) is currently 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.