Glenview Trust co Raises Stock Position in CSX Co. (NASDAQ:CSX)

Glenview Trust co boosted its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 12.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 835,866 shares of the transportation company's stock after acquiring an additional 92,082 shares during the period. Glenview Trust co's holdings in CSX were worth $26,973,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CSX. Valley Wealth Managers Inc. lifted its position in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company's stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of CSX in the 4th quarter worth about $31,000. Sierra Ocean LLC bought a new stake in shares of CSX in the 4th quarter worth about $33,000. Center for Financial Planning Inc. lifted its holdings in shares of CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock worth $35,000 after acquiring an additional 720 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in shares of CSX in the 4th quarter worth about $36,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ CSX traded down $0.09 on Thursday, hitting $29.98. 16,101,263 shares of the company's stock traded hands, compared to its average volume of 11,694,501. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 1-year low of $28.98 and a 1-year high of $38.03. The firm's 50-day moving average price is $32.12 and its two-hundred day moving average price is $33.41. The firm has a market capitalization of $56.80 billion, a PE ratio of 16.75, a P/E/G ratio of 1.92 and a beta of 1.25.

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CSX (NASDAQ:CSX - Get Free Report) last posted its 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%. As a group, analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This is a boost from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, February 28th. CSX's payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. 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. Jefferies Financial Group raised shares of CSX from a "hold" rating to a "buy" rating and set a $37.00 target price on the stock in a research report on Friday, January 10th. Loop Capital downgraded shares of CSX from a "buy" rating to a "hold" rating and cut their target price for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research report on Friday, March 7th. They set a "hold" rating and a $34.00 target price on the stock. Finally, Barclays cut their target price on shares of CSX from $40.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX 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.