Cibc World Markets Corp Has $11.21 Million Stock Position in CSX Co. (NASDAQ:CSX)

Cibc World Markets Corp lifted its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 347,475 shares of the transportation company's stock after buying an additional 40,873 shares during the period. Cibc World Markets Corp's holdings in CSX were worth $11,213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CSX. Avior Wealth Management LLC boosted its position in CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company's stock valued at $407,000 after purchasing an additional 293 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in CSX by 1.3% during 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. Associated Banc Corp boosted its position in CSX by 0.6% during the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company's stock valued at $1,918,000 after purchasing an additional 310 shares during the last quarter. Joel Isaacson & Co. LLC boosted its position in CSX by 2.4% during the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock valued at $421,000 after purchasing an additional 310 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted 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 valued at $1,027,000 after purchasing an additional 313 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

Remove Ads

CSX Stock Performance

CSX traded down $0.10 on Wednesday, hitting $30.16. 3,900,923 shares of the stock traded hands, compared to its average volume of 11,662,332. CSX Co. has a 52 week low of $28.98 and a 52 week high of $38.03. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $57.14 billion, a PE ratio of 16.85, a P/E/G ratio of 1.92 and a beta of 1.25. The business has a fifty day moving average price of $32.16 and a two-hundred day moving average price of $33.44.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed 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 represents a $0.52 dividend on an annualized basis and a yield of 1.72%. This is an increase from CSX's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX's payout ratio is presently 29.05%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CSX shares. BMO Capital Markets reduced their price objective on CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Loop Capital cut CSX from a "buy" rating to a "hold" rating and reduced their price target for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research report on Friday, March 7th. They issued a "hold" rating and a $34.00 price target for the company. Jefferies Financial Group raised CSX from a "hold" rating to a "buy" rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Finally, Barclays reduced their price target on CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $37.00.

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.