Cibc World Markets Corp Buys 40,873 Shares of CSX Co. (NASDAQ:CSX)

Cibc World Markets Corp lifted its position in CSX Co. (NASDAQ:CSX) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 347,475 shares of the transportation company’s stock after purchasing an additional 40,873 shares during the period. Cibc World Markets Corp’s holdings in CSX were worth $11,213,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Natixis Advisors LLC boosted its stake in shares of CSX by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 659,958 shares of the transportation company’s stock worth $22,788,000 after acquiring an additional 90,800 shares in the last quarter. AMG National Trust Bank increased its holdings in shares of CSX by 387.2% during the 3rd quarter. AMG National Trust Bank now owns 98,581 shares of the transportation company’s stock worth $3,404,000 after buying an additional 78,348 shares during the last quarter. Holistic Financial Partners increased its holdings in CSX by 9.7% in the 3rd quarter. Holistic Financial Partners now owns 8,189 shares of the transportation company’s stock valued at $283,000 after purchasing an additional 724 shares during the last quarter. Aviance Capital Partners LLC increased its holdings in CSX by 11.4% in the 3rd quarter. Aviance Capital Partners LLC now owns 33,119 shares of the transportation company’s stock valued at $1,144,000 after purchasing an additional 3,402 shares during the last quarter. Finally, Pathstone Holdings LLC increased its holdings in CSX by 4.9% in the 3rd quarter. Pathstone Holdings LLC now owns 282,471 shares of the transportation company’s stock valued at $9,754,000 after purchasing an additional 13,299 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Robert W. Baird reduced their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Stephens restated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Price Performance

Shares of CSX stock opened at $30.33 on Tuesday. The firm has a fifty day simple moving average of $32.20 and a 200-day simple moving average of $33.46. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 1-year low of $28.98 and a 1-year high of $38.03. The stock has a market capitalization of $57.46 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released 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%. On average, sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.71%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 29.05%.

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.