CIBC Asset Management Inc Purchases 18,438 Shares of CSX Co. (NASDAQ:CSX)

CIBC Asset Management Inc lifted its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 621,947 shares of the transportation company's stock after purchasing an additional 18,438 shares during the quarter. CIBC Asset Management Inc's holdings in CSX were worth $20,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in CSX by 255.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,505 shares of the transportation company's stock worth $259,000 after purchasing an additional 5,396 shares in the last quarter. Creative Planning boosted its holdings in shares of CSX by 2.2% in the third quarter. Creative Planning now owns 634,696 shares of the transportation company's stock valued at $21,916,000 after buying an additional 13,613 shares during the period. Capital Investment Advisors LLC increased its position in shares of CSX by 17.2% during the third quarter. Capital Investment Advisors LLC now owns 44,781 shares of the transportation company's stock worth $1,546,000 after acquiring an additional 6,575 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of CSX by 3.0% during the third quarter. Commonwealth Equity Services LLC now owns 875,550 shares of the transportation company's stock worth $30,233,000 after acquiring an additional 25,810 shares during the period. Finally, New Century Financial Group LLC lifted its position in CSX by 22.0% in the 3rd quarter. New Century Financial Group LLC now owns 10,751 shares of the transportation company's stock valued at $371,000 after acquiring an additional 1,940 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of research reports. Susquehanna lowered their target price on CSX from $40.00 to $39.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Robert W. Baird dropped their target price on CSX from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research 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. Finally, Wells Fargo & Company cut their price objective on shares of CSX from $36.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.16.

CSX Stock Performance

NASDAQ:CSX traded down $0.16 during mid-day trading on Friday, hitting $32.30. The stock had a trading volume of 23,611,829 shares, compared to its average volume of 14,363,321. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock has a market cap of $62.29 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.92 and a beta of 1.23. The company's 50 day simple moving average is $32.63 and its 200 day simple moving average is $33.77.

CSX (NASDAQ:CSX - Get Free Report) last released 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 net margin of 23.95% and a return on equity of 28.15%. 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 disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. This is a boost from CSX's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. CSX's payout ratio is 26.82%.

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.