National Bank of Canada FI Sells 696,201 Shares of CSX Co. (NASDAQ:CSX)

National Bank of Canada FI lowered its holdings in CSX Co. (NASDAQ:CSX) by 21.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,582,400 shares of the transportation company’s stock after selling 696,201 shares during the quarter. National Bank of Canada FI owned 0.13% of CSX worth $89,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in CSX in the fourth quarter valued at about $27,000. Life Planning Partners Inc purchased a new position in shares of CSX in the fourth quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in CSX during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC increased its holdings in CSX by 228.4% during the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after buying an additional 692 shares during the last quarter. Finally, Avion Wealth raised its position in CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after acquiring an additional 820 shares during the period. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Bank of America decreased their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Raymond James lifted their target price on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. UBS Group cut their price target on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Stifel Nicolaus upped their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Susquehanna lifted their target price on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

CSX Stock Up 0.8 %

Shares of CSX stock traded up $0.28 on Friday, reaching $33.85. The stock had a trading volume of 6,618,097 shares, compared to its average volume of 14,806,096. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a 50 day moving average price of $36.23 and a 200 day moving average price of $34.59. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $66.17 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.03 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, equities research analysts forecast that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

About CSX

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.