AMG National Trust Bank Reduces Stake in CSX Co. (NASDAQ:CSX)

AMG National Trust Bank reduced its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,926 shares of the transportation company's stock after selling 18,655 shares during the quarter. AMG National Trust Bank's holdings in CSX were worth $2,570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in CSX by 40.5% during the 4th 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 during the last quarter. Raymond James Financial Inc. bought a new stake in CSX in the 4th quarter worth about $85,959,000. Perpetual Ltd purchased a new stake in CSX in the 4th quarter valued at about $83,301,000. FMR LLC lifted its position in shares of 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 buying an additional 1,447,651 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of CSX by 616.4% in the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company's stock valued at $35,966,000 after acquiring an additional 958,957 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Loop Capital cut CSX from a "buy" rating to a "hold" rating and cut their price objective for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Royal Bank of Canada decreased their price objective on shares of CSX from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Robert W. Baird dropped their price objective on CSX from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Finally, Susquehanna lowered their target price on CSX from $40.00 to $39.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, CSX has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

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CSX Price Performance

Shares of CSX stock traded up $0.33 during trading on Friday, hitting $31.26. The company had a trading volume of 19,422,389 shares, compared to its average volume of 11,630,004. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 52 week low of $30.55 and a 52 week high of $38.35. The stock has a market capitalization of $59.23 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The stock's 50-day moving average is $32.48 and its two-hundred day moving average is $33.62.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, February 28th. This is a boost from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is presently 29.05%.

CSX Company 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.