Swiss National Bank Reduces Position in CSX Co. (NASDAQ:CSX)

Swiss National Bank cut its stake in shares of CSX Co. (NASDAQ:CSX) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,476,900 shares of the transportation company’s stock after selling 322,200 shares during the quarter. Swiss National Bank owned about 0.28% of CSX worth $176,740,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. grew its holdings in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of CSX during the fourth quarter valued at $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX during the fourth quarter valued at $33,000. Center for Financial Planning Inc. grew 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 valued at $35,000 after buying an additional 720 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in CSX in the fourth quarter valued at $41,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 1.4 %

CSX opened at $29.13 on Friday. CSX Co. has a twelve month low of $28.98 and a twelve month high of $38.03. 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 company has a 50-day moving average price of $32.28 and a 200 day moving average price of $33.52. The company has a market cap of $55.19 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

CSX has been the topic of several recent research reports. Wells Fargo & Company lowered their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Barclays lowered their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Susquehanna lowered their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $37.00 price target (down from $38.00) on shares of CSX in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.00.

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.