Bank of Nova Scotia Buys 574,394 Shares of CSX Co. (NASDAQ:CSX)

Bank of Nova Scotia boosted its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 47.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,792,851 shares of the transportation company's stock after buying an additional 574,394 shares during the quarter. Bank of Nova Scotia owned 0.09% of CSX worth $57,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSX. Rehmann Capital Advisory Group grew its position in shares of CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company's stock valued at $830,000 after purchasing an additional 306 shares during the last quarter. Joel Isaacson & Co. LLC grew its holdings in CSX by 2.4% during the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock valued at $421,000 after buying an additional 310 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its position in CSX by 1.0% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company's stock worth $1,027,000 after buying an additional 313 shares in the last quarter. West Branch Capital LLC raised its stake in CSX by 3.3% in the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company's stock valued at $333,000 after purchasing an additional 332 shares during the last quarter. Finally, Alhambra Investment Management LLC lifted its holdings in CSX by 4.3% in the 4th quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company's stock valued at $268,000 after purchasing an additional 342 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup dropped their target price on CSX from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets decreased their target price on shares of CSX from $40.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and dropped their price target for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a report on Friday, March 7th. They issued a "hold" rating and a $34.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.55.

CSX Trading Up 1.0 %

NASDAQ:CSX traded up $0.29 on Monday, hitting $28.30. 2,860,035 shares of the stock were exchanged, compared to its average volume of 12,635,218. The stock has a market capitalization of $53.34 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The company's 50-day moving average price is $30.58 and its 200 day moving average price is $32.71.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 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%. On average, equities research 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. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This is an increase from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Friday, February 28th. CSX's dividend payout ratio (DPR) is 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.