Bank of New York Mellon Corp Has $753.51 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Bank of New York Mellon Corp lifted its position in shares of CSX Co. (NASDAQ:CSX) by 40.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,350,087 shares of the transportation company’s stock after buying an additional 6,730,316 shares during the quarter. Bank of New York Mellon Corp owned about 1.21% of CSX worth $753,507,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Valley Wealth Managers Inc. raised its stake in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of CSX during the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. raised its position in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares in the last quarter. Addison Advisors LLC boosted its stake in shares of CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares during the period. Finally, Fortitude Family Office LLC boosted its stake in shares of CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, January 10th. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Finally, BMO Capital Markets dropped their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Six 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Trading Up 0.9 %

Shares of CSX stock opened at $32.09 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $61.88 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a twelve month low of $31.43 and a twelve month high of $38.70. The stock’s fifty day simple moving average is $32.59 and its 200 day simple moving average is $33.74.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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, sell-side analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.62%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 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.