Keybank National Association OH Sells 21,672 Shares of CSX Co. (NASDAQ:CSX)

Keybank National Association OH lowered its position in CSX Co. (NASDAQ:CSX) by 3.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 550,048 shares of the transportation company’s stock after selling 21,672 shares during the quarter. Keybank National Association OH’s holdings in CSX were worth $17,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position 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 worth $753,507,000 after acquiring an additional 6,730,316 shares in the last quarter. Perpetual Ltd bought a new stake in shares of CSX during the 4th quarter valued at $83,301,000. FMR LLC lifted 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 purchasing an additional 1,447,651 shares in the last quarter. KBC Group NV boosted 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 during the period. Finally, Fisher Asset Management LLC grew its holdings in CSX by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after buying an additional 857,302 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Trading Down 2.3 %

CSX stock opened at $31.20 on Wednesday. The company has a market capitalization of $60.17 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a one year low of $31.17 and a one year high of $38.61. The company’s 50 day moving average price is $32.57 and its two-hundred day moving average price is $33.68.

CSX (NASDAQ:CSX) last issued its 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%. As a group, analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup lowered their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Robert W. Baird reduced their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.16.

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.