Intrust Bank NA Trims Stake in CSX Co. (NASDAQ:CSX)

Intrust Bank NA cut its holdings in CSX Co. (NASDAQ:CSX) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,183 shares of the transportation company’s stock after selling 1,460 shares during the period. Intrust Bank NA’s holdings in CSX were worth $942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CSX. State Street Corp increased its holdings in CSX by 0.6% in the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after acquiring an additional 455,258 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CSX by 0.5% in the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after purchasing an additional 190,346 shares during the period. Fisher Asset Management LLC increased its stake in shares of CSX by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after purchasing an additional 299,536 shares in the last quarter. Norges Bank bought a new stake in shares of CSX during the 4th quarter valued at $780,194,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CSX shares. Citigroup decreased their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company cut their price objective on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. Royal Bank of Canada reduced their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $36.75.

CSX Price Performance

CSX stock opened at $29.11 on Friday. The firm has a market capitalization of $54.86 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. CSX Co. has a 12-month low of $28.98 and a 12-month high of $37.10. The firm has a 50-day moving average price of $31.75 and a 200-day moving average price of $33.20. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

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

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.79%. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

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.