Commerce Bank Cuts Stock Holdings in CSX Co. (NASDAQ:CSX)

Commerce Bank lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 314,196 shares of the transportation company’s stock after selling 1,494 shares during the period. Commerce Bank’s holdings in CSX were worth $11,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors lifted its holdings in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC grew its position in CSX by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock worth $775,855,000 after acquiring an additional 470,640 shares in the last quarter. Norges Bank bought a new stake in CSX during the fourth quarter worth approximately $757,276,000. Finally, Charles Schwab Investment Management Inc. raised its position in CSX by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock valued at $388,922,000 after purchasing an additional 135,169 shares during the period. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

CSX has been the topic of several analyst reports. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Monday. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a report on Thursday, April 18th. Stifel Nicolaus raised their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Wells Fargo & Company started coverage on CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. Finally, UBS Group decreased their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.39.

CSX Stock Up 1.4 %

Shares of CSX traded up $0.44 during midday trading on Wednesday, hitting $32.92. 2,906,735 shares of the company’s stock traded hands, compared to its average volume of 11,829,120. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm’s fifty day moving average is $33.37 and its 200-day moving average is $35.09. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $64.36 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the business posted $0.48 EPS. CSX’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s dividend payout ratio is currently 26.37%.

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.