Commerce Bank Decreases Stake in CSX Co. (NASDAQ:CSX)

Commerce Bank lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,303 shares of the transportation company’s stock after selling 3,735 shares during the period. Commerce Bank’s holdings in CSX were worth $6,367,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CSX. SBI Securities Co. Ltd. purchased a new position in shares of CSX in the 4th quarter valued at about $31,000. Sierra Ocean LLC purchased a new position in CSX in the fourth quarter valued at about $33,000. Center for Financial Planning Inc. lifted its position in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of CSX by 216.2% during the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock worth $35,000 after acquiring an additional 746 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of CSX in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Jefferies Financial Group cut their target price on shares of CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Susquehanna lowered their price target on shares of CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $33.95.

CSX Stock Performance

CSX stock opened at $27.64 on Friday. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $52.09 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The stock has a 50 day moving average of $30.07 and a 200-day moving average of $32.49.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio is presently 31.14%.

CSX Company 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.