AMG National Trust Bank Sells 18,655 Shares of CSX Co. (NASDAQ:CSX)

AMG National Trust Bank lowered its holdings in CSX Co. (NASDAQ:CSX) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,926 shares of the transportation company’s stock after selling 18,655 shares during the period. AMG National Trust Bank’s holdings in CSX were worth $2,570,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in CSX by 40.5% during the 4th 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 buying an additional 6,730,316 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of CSX in the fourth quarter valued at approximately $85,959,000. Perpetual Ltd purchased a new position in CSX during the fourth quarter valued at approximately $83,301,000. FMR LLC increased its holdings in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the period. Finally, KBC Group NV lifted its stake in CSX by 616.4% in the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after purchasing an additional 958,957 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CSX shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research report on Friday. They set a “hold” rating and a $34.00 price target for the company. Susquehanna reduced their target price on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Up 1.1 %

CSX opened at $31.26 on Friday. CSX Co. has a 12 month low of $30.55 and a 12 month high of $38.35. 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 business’s 50-day moving average price is $32.48 and its 200-day moving average price is $33.62. The company has a market cap of $60.28 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.92 and a beta of 1.23.

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, equities analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.66%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is presently 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.