Argent Trust Co Acquires 2,947 Shares of CSX Co. (NASDAQ:CSX)

Argent Trust Co raised its holdings in CSX Co. (NASDAQ:CSX) by 3.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 92,232 shares of the transportation company’s stock after acquiring an additional 2,947 shares during the quarter. Argent Trust Co’s holdings in CSX were worth $2,976,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in CSX by 6.3% in the third quarter. Wellington Management Group LLP now owns 102,550 shares of the transportation company’s stock valued at $3,541,000 after purchasing an additional 6,055 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in CSX by 4.6% in the third quarter. Coldstream Capital Management Inc. now owns 49,446 shares of the transportation company’s stock worth $1,714,000 after acquiring an additional 2,189 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of CSX by 64.9% during the third quarter. Toronto Dominion Bank now owns 1,051,028 shares of the transportation company’s stock valued at $36,292,000 after acquiring an additional 413,826 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after purchasing an additional 306 shares in the last quarter. Finally, TCW Group Inc. grew its position in CSX by 32.7% in the 3rd quarter. TCW Group Inc. now owns 49,225 shares of the transportation company’s stock valued at $1,700,000 after purchasing an additional 12,142 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CSX shares. Robert W. Baird reduced their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Royal Bank of Canada cut their price objective 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. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price for the company. Finally, Susquehanna dropped their target price on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $35.85.

CSX Stock Down 2.9 %

CSX stock opened at $27.82 on Friday. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. The firm has a market capitalization of $52.43 billion, a PE ratio of 15.54, a PEG ratio of 1.92 and a beta of 1.23. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a 50-day simple moving average of $30.68 and a two-hundred day simple moving average of $32.76.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 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%. On average, equities analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.87%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is presently 29.05%.

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.