Huntington National Bank Has $4.29 Million Holdings in CSX Co. (NASDAQ:CSX)

Huntington National Bank trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,792 shares of the transportation company’s stock after selling 1,354 shares during the period. Huntington National Bank’s holdings in CSX were worth $4,285,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its holdings in CSX by 0.6% during the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after buying an additional 455,258 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after acquiring an additional 726,507 shares during the period. Fisher Asset Management LLC boosted its holdings in CSX by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after acquiring an additional 299,536 shares during the last quarter. Norges Bank acquired a new stake in CSX in the fourth quarter worth about $780,194,000. Finally, Bank of New York Mellon Corp raised its holdings in 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 worth $753,507,000 after purchasing an additional 6,730,316 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Up 0.7 %

CSX stock opened at $29.74 on Thursday. CSX Co. has a 52 week low of $28.78 and a 52 week high of $37.10. The business has a 50-day simple moving average of $31.54 and a 200 day simple moving average of $33.12. 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 market cap of $56.05 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last issued its 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%. Sell-side analysts anticipate 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. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.75%. 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 (DPR) is currently 29.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSX shares. Benchmark reiterated a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Susquehanna dropped their target price on shares of CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Thursday, March 27th. Robert W. Baird reduced their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 target price on the stock. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

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.