AMG National Trust Bank Raises Stake in CSX Co. (NASDAQ:CSX)

AMG National Trust Bank grew its holdings in CSX Co. (NASDAQ:CSX) by 387.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 98,581 shares of the transportation company’s stock after buying an additional 78,348 shares during the period. AMG National Trust Bank’s holdings in CSX were worth $3,404,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CSX. Western Wealth Management LLC grew its position in CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after buying an additional 295 shares during the last quarter. TriaGen Wealth Management LLC boosted its holdings in shares of CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after acquiring an additional 300 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after acquiring an additional 306 shares during the period. J.W. Cole Advisors Inc. raised its holdings in CSX by 0.9% during the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after purchasing an additional 309 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its position in CSX by 33.7% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 316 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CSX. Stifel Nicolaus dropped their target price on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Stephens decreased their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Evercore ISI lowered their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Wells Fargo & Company reduced their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Performance

CSX stock opened at $34.97 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a fifty-two week low of $31.44 and a fifty-two week high of $40.12. The stock has a fifty day moving average of $34.35 and a two-hundred day moving average of $33.91. The company has a market capitalization of $67.44 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 2.23 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. On average, analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.37%. CSX’s dividend payout ratio (DPR) is presently 25.81%.

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.