CSX Co. (NASDAQ:CSX) Shares Sold by Commerce Bank

Commerce Bank lessened its holdings in CSX Co. (NASDAQ:CSX) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position 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 acquiring an additional 9,914,656 shares in the last quarter. Capital International Investors raised its stake in CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of CSX by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after purchasing an additional 470,640 shares during the last quarter. Norges Bank acquired a new position in CSX in the fourth quarter valued at $757,276,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CSX by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock worth $388,922,000 after purchasing an additional 135,169 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company started coverage on shares of CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target on the stock. Royal Bank of Canada reduced their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Sanford C. Bernstein raised their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.39.

CSX Stock Performance

CSX stock traded up $0.44 on Wednesday, reaching $32.92. The company’s stock had a trading volume of 2,906,735 shares, compared to its average volume of 11,829,120. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The firm has a fifty day moving average of $33.37 and a two-hundred day moving average of $35.09. The company has a market capitalization of $64.36 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. As a group, analysts predict that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 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.