CIBC Private Wealth Group LLC Increases Stake in CSX Co. (NASDAQ:CSX)

CIBC Private Wealth Group LLC boosted its position in CSX Co. (NASDAQ:CSX) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,844 shares of the transportation company’s stock after purchasing an additional 10,903 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in CSX were worth $4,986,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CSX. SBI Securities Co. Ltd. bought a new position in CSX during the 4th quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new stake in CSX in the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. lifted its holdings in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the period. Atala Financial Inc bought a new stake in shares of CSX in the fourth quarter worth $36,000. Finally, Millstone Evans Group LLC purchased a new stake in CSX during the fourth quarter valued at $37,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. BMO Capital Markets cut their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Raymond James reissued an “outperform” rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Robert W. Baird cut their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.75.

CSX Stock Performance

NASDAQ CSX opened at $29.54 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a market cap of $55.68 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.92 and a beta of 1.25. The stock has a 50-day moving average of $31.61 and a two-hundred day moving average of $33.14. CSX Co. has a 1-year low of $28.98 and a 1-year high of $37.10.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. As a group, analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. 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%.

CSX Company 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.