Zurcher Kantonalbank Zurich Cantonalbank Purchases 34,730 Shares of CSX Co. (NASDAQ:CSX)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CSX Co. (NASDAQ:CSX) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 723,344 shares of the transportation company’s stock after acquiring an additional 34,730 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CSX were worth $25,078,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CSX. Bornite Capital Management LP acquired a new stake in CSX during the 1st quarter worth approximately $14,980,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in CSX by 6.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock worth $230,637,000 after buying an additional 347,514 shares during the period. Blair William & Co. IL raised its holdings in shares of CSX by 12.7% in the first quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock valued at $4,581,000 after purchasing an additional 13,829 shares during the last quarter. Sei Investments Co. raised its holdings in shares of CSX by 4.5% in the first quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock valued at $7,361,000 after purchasing an additional 8,488 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of CSX by 16.8% in the first quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock valued at $2,678,000 after purchasing an additional 10,276 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CSX. Susquehanna lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Raymond James lifted their price objective on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 target price on shares of CSX in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.28.

CSX Trading Down 2.0 %

Shares of CSX stock opened at $34.16 on Thursday. The firm has a 50-day moving average of $36.98 and a 200-day moving average of $34.32. The stock has a market cap of $66.87 billion, a PE ratio of 18.57, a PEG ratio of 2.01 and a beta of 1.18. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05.

CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. CSX’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. As a group, sell-side analysts forecast that CSX Co. will post 1.97 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is presently 26.09%.

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.