CoreFirst Bank & Trust Acquires Shares of 1,599 CSX Co. (NASDAQ:CSX)

CoreFirst Bank & Trust bought a new position in CSX Co. (NASDAQ:CSX) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,599 shares of the transportation company’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in 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. Raymond James Financial Inc. purchased a new position in shares of CSX during the fourth quarter valued at approximately $85,959,000. Perpetual Ltd bought a new stake in shares of CSX in the 4th quarter worth approximately $83,301,000. Sound Shore Management Inc. CT purchased a new stake in shares of CSX in the 4th quarter worth approximately $67,825,000. Finally, River Road Asset Management LLC purchased a new stake in shares of CSX in the 4th quarter worth approximately $46,861,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 1.1 %

CSX stock opened at $29.53 on Wednesday. The company has a market cap of $55.95 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The business’s 50-day moving average is $31.93 and its two-hundred day moving average is $33.28. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.18.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.76%. CSX’s payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSX. Barclays lowered their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company dropped their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Robert W. Baird reduced their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped 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. Finally, Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.00.

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.