CIBC Private Wealth Group LLC Has $4.99 Million Stake in CSX Co. (NASDAQ:CSX)

CIBC Private Wealth Group LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,844 shares of the transportation company’s stock after purchasing an additional 10,903 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in CSX were worth $4,986,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Diversified Trust Co lifted its stake in shares of CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after acquiring an additional 46,473 shares during the last quarter. Marshall Financial Group LLC acquired a new position in CSX in the fourth quarter valued at approximately $1,084,000. Carnegie Investment Counsel boosted its stake in CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after acquiring an additional 8,474 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of CSX by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after purchasing an additional 41,547 shares in the last quarter. Finally, Waycross Partners LLC grew its stake in CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after acquiring an additional 40,611 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Finally, Barclays reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $36.75.

CSX Stock Performance

Shares of NASDAQ CSX opened at $29.54 on Wednesday. The stock has a market cap of $55.68 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.92 and a beta of 1.25. The stock’s 50-day moving average is $31.61 and its 200 day moving average is $33.14. 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 $37.10.

CSX (NASDAQ:CSX) last posted 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, sell-side analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

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.