Cibc World Markets Corp Has $11.21 Million Stock Position in CSX Co. (NASDAQ:CSX)

Cibc World Markets Corp raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 13.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 347,475 shares of the transportation company’s stock after buying an additional 40,873 shares during the period. Cibc World Markets Corp’s holdings in CSX were worth $11,213,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of CSX in the fourth quarter valued at $31,000. Sierra Ocean LLC acquired a new stake in shares of CSX during the fourth quarter worth $33,000. Center for Financial Planning Inc. lifted its holdings in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares in the last quarter. Atala Financial Inc acquired a new stake in shares of CSX during the fourth quarter worth $36,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in CSX in the fourth quarter valued at about $39,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of CSX stock opened at $30.33 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $38.03. The firm has a market cap of $57.46 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.92 and a beta of 1.25. The business’s 50 day moving average price is $32.20 and its 200-day moving average price is $33.46.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.71%. CSX’s payout ratio is presently 29.05%.

Analysts Set New Price Targets

Several research analysts have commented on CSX shares. Deutsche Bank Aktiengesellschaft started coverage on CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. Barclays reduced their price target on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada reduced their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. BMO Capital Markets reduced their price target on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, 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 report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.