AMG National Trust Bank Increases Stock Holdings in CSX Corporation (NASDAQ:CSX)

AMG National Trust Bank lifted its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,402 shares of the transportation company's stock after buying an additional 14,476 shares during the period. AMG National Trust Bank's holdings in CSX were worth $2,778,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after buying an additional 849 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of CSX by 20.9% during the fourth quarter. Proficio Capital Partners LLC now owns 18,257 shares of the transportation company's stock worth $589,000 after buying an additional 3,159 shares in the last quarter. HUB Investment Partners LLC increased its holdings in shares of CSX by 8.5% during the fourth quarter. HUB Investment Partners LLC now owns 8,842 shares of the transportation company's stock worth $285,000 after buying an additional 689 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of CSX by 6.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,193 shares of the transportation company's stock worth $297,000 after buying an additional 522 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of CSX during the fourth quarter worth approximately $177,000. Institutional investors own 73.57% of the company's stock.

CSX Trading Down 0.2%

Shares of CSX traded down $0.08 during trading hours on Wednesday, reaching $35.15. 8,671,744 shares of the company traded hands, compared to its average volume of 13,605,082. The firm has a market cap of $66.03 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 3.07 and a beta of 1.23. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The stock's fifty day moving average price is $32.27 and its 200 day moving average price is $31.15.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.48%. CSX's dividend payout ratio is presently 31.14%.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent analyst reports. Benchmark reissued a "buy" rating and set a $35.00 price target on shares of CSX in a research report on Thursday, April 17th. Sanford C. Bernstein restated a "market perform" rating and set a $36.00 target price (up previously from $33.00) on shares of CSX in a research report on Tuesday, July 8th. UBS Group dropped their price objective on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Citigroup raised their price target on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Jefferies Financial Group reduced their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $35.59.

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.