Comerica Bank Purchases 102,157 Shares of CSX Co. (NASDAQ:CSX)

Comerica Bank lifted its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 519,964 shares of the transportation company's stock after buying an additional 102,157 shares during the period. Comerica Bank's holdings in CSX were worth $16,779,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of CSX during the fourth quarter worth approximately $780,194,000. Bank of New York Mellon Corp raised its stake in shares of CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock valued at $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in CSX by 471.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock worth $217,808,000 after purchasing an additional 5,568,624 shares during the period. Fiduciary Management Inc. WI bought a new position in CSX in the 4th quarter valued at about $178,259,000. Finally, Invesco Ltd. raised its position in shares of CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after buying an additional 2,977,212 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CSX shares. Evercore ISI cut their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets reduced their price objective on shares of CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a report on Friday, March 7th. They set a "hold" rating and a $34.00 price target on the stock. Robert W. Baird decreased their target price on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Finally, Bank of America dropped their price target on shares of CSX from $33.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.86.

CSX Stock Down 0.8 %

Shares of NASDAQ CSX traded down $0.23 during midday trading on Monday, reaching $28.47. The company's stock had a trading volume of 9,480,711 shares, compared to its average volume of 12,702,467. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The stock has a 50 day simple moving average of $29.11 and a 200-day simple moving average of $32.02. The stock has a market capitalization of $53.48 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.92 and a beta of 1.22. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. Equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.83%. 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 is presently 31.14%.

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.