Swiss National Bank Trims Stake in CSX Co. (NASDAQ:CSX)

Swiss National Bank reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,273,800 shares of the transportation company’s stock after selling 314,900 shares during the period. Swiss National Bank owned about 0.32% of CSX worth $217,513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC increased its stake in shares of CSX by 41.7% in the third quarter. FinTrust Capital Advisors LLC now owns 1,511 shares of the transportation company’s stock worth $46,000 after purchasing an additional 445 shares in the last quarter. Raymond James & Associates increased its stake in shares of CSX by 3.7% in the third quarter. Raymond James & Associates now owns 1,584,544 shares of the transportation company’s stock worth $48,725,000 after purchasing an additional 57,053 shares in the last quarter. Simon Quick Advisors LLC increased its stake in shares of CSX by 6.8% in the third quarter. Simon Quick Advisors LLC now owns 9,330 shares of the transportation company’s stock worth $287,000 after purchasing an additional 596 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of CSX by 10.1% in the third quarter. Stratos Wealth Partners LTD. now owns 31,150 shares of the transportation company’s stock worth $958,000 after purchasing an additional 2,847 shares in the last quarter. Finally, Stratos Wealth Advisors LLC increased its stake in shares of CSX by 2.7% in the third quarter. Stratos Wealth Advisors LLC now owns 27,906 shares of the transportation company’s stock worth $858,000 after purchasing an additional 730 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

CSX stock traded up $0.28 during trading on Friday, reaching $33.85. The company had a trading volume of 6,617,956 shares, compared to its average volume of 12,311,956. The firm has a 50-day simple moving average of $36.32 and a 200-day simple moving average of $34.52. The company has a market cap of $66.17 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the business posted $0.48 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts expect that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CSX. Royal Bank of Canada cut their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Raymond James increased their price objective on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets increased their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average target price of $38.00.

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.