Associated Banc Corp Has $1.29 Million Stock Position in CSX Co. (NASDAQ:CSX)

Associated Banc Corp lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,028 shares of the transportation company’s stock after selling 15,506 shares during the period. Associated Banc Corp’s holdings in CSX were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CSX. Bank of New York Mellon Corp raised its holdings in shares of CSX by 40.5% during 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 purchasing an additional 6,730,316 shares during the period. Raymond James Financial Inc. acquired a new position in shares of CSX during the fourth quarter valued at about $85,959,000. Perpetual Ltd acquired a new stake in shares of CSX in the 4th quarter worth about $83,301,000. River Road Asset Management LLC bought a new position in CSX in the 4th quarter valued at about $46,861,000. Finally, FMR LLC lifted its position in CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after acquiring an additional 1,447,651 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CSX shares. JPMorgan Chase & Co. dropped their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock 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 price target on the stock in a research report on Friday, January 10th. Citigroup dropped their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company dropped their price target 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. Finally, Stephens reaffirmed an “overweight” rating and issued a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

CSX Trading Up 3.0 %

NASDAQ:CSX opened at $30.01 on Friday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $56.86 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The firm’s 50 day moving average is $32.23 and its 200 day moving average is $33.49. CSX Co. has a 12 month low of $28.98 and a 12 month high of $38.03.

CSX (NASDAQ:CSX) last posted 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%. Sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio 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.