6,443 Shares in CSX Co. (NASDAQ:CSX) Acquired by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH bought a new stake in CSX Co. (NASDAQ:CSX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,443 shares of the transportation company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cascade Investment Advisors Inc. increased its position in CSX by 3.0% during the second quarter. Cascade Investment Advisors Inc. now owns 43,621 shares of the transportation company’s stock worth $1,459,000 after purchasing an additional 1,290 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in shares of CSX by 9.3% during the 2nd quarter. ST Germain D J Co. Inc. now owns 20,264 shares of the transportation company’s stock worth $678,000 after buying an additional 1,728 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of CSX during the 2nd quarter valued at approximately $75,000. DNB Asset Management AS lifted its holdings in CSX by 29.8% in the second quarter. DNB Asset Management AS now owns 847,390 shares of the transportation company’s stock valued at $28,345,000 after acquiring an additional 194,442 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in CSX by 4.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 23,793 shares of the transportation company’s stock worth $796,000 after acquiring an additional 973 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CSX. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Monday, July 8th. Jefferies Financial Group dropped their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Sanford C. Bernstein upped their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Stifel Nicolaus boosted their target price on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.73.

CSX Stock Up 2.6 %

NASDAQ:CSX traded up $0.86 during trading hours on Tuesday, hitting $33.86. The company’s stock had a trading volume of 18,679,482 shares, compared to its average volume of 11,880,532. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The stock has a market capitalization of $66.19 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average of $33.54 and a 200-day moving average of $35.04.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. On average, equities analysts forecast that CSX Co. will post 1.94 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.