AMG National Trust Bank Increases Stake in CSX Co. (NASDAQ:CSX)

AMG National Trust Bank increased its stake in CSX Co. (NASDAQ:CSX) by 387.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 98,581 shares of the transportation company’s stock after buying an additional 78,348 shares during the period. AMG National Trust Bank’s holdings in CSX were worth $3,404,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CSX. Interval Partners LP boosted its holdings in shares of CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after purchasing an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of CSX in the 2nd quarter worth $116,430,000. Assenagon Asset Management S.A. grew its position in CSX by 318.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after acquiring an additional 2,489,329 shares during the period. Wulff Hansen & CO. grew its position in CSX by 3,243.0% during the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after acquiring an additional 2,126,668 shares during the period. Finally, Bank of Montreal Can increased its stake in CSX by 38.7% during the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after acquiring an additional 1,884,998 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Trading Down 0.5 %

Shares of NASDAQ CSX opened at $34.97 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock’s 50 day moving average price is $34.35 and its two-hundred day moving average price is $33.91. CSX Co. has a 52-week low of $31.44 and a 52-week high of $40.12. The stock has a market capitalization of $67.44 billion, a P/E ratio of 18.80, a PEG ratio of 2.23 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Analysts Set New Price Targets

CSX has been the subject of a number of research reports. Susquehanna decreased their target price on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Citigroup boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stephens reduced their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company lowered their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Finally, Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.78.

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.