Toronto Dominion Bank Boosts Stock Position in CSX Co. (NASDAQ:CSX)

Toronto Dominion Bank grew its stake in CSX Co. (NASDAQ:CSX) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,195,702 shares of the transportation company’s stock after purchasing an additional 18,464 shares during the period. Toronto Dominion Bank’s holdings in CSX were worth $44,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Life Planning Partners Inc acquired a new position in CSX in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in CSX in the first quarter valued at approximately $29,000. Turtle Creek Wealth Advisors LLC acquired a new position in CSX in the fourth quarter valued at approximately $34,000. Burkett Financial Services LLC acquired a new position in CSX in the fourth quarter valued at approximately $34,000. Finally, Avion Wealth lifted its holdings in CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 820 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group decreased their price target on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group decreased their price target on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Royal Bank of Canada decreased their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Susquehanna decreased their price target on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus upped their price target on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average price target of $38.14.

CSX Stock Up 2.1 %

NASDAQ:CSX traded up $0.72 during trading hours on Friday, hitting $34.32. The company’s stock had a trading volume of 9,975,620 shares, compared to its average volume of 11,809,636. The stock has a market capitalization of $67.09 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The stock has a fifty day moving average of $33.45 and a 200-day moving average of $35.04. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.