Bank of New York Mellon Corp Purchases 5,033,743 Shares of CSX Corporation (NASDAQ:CSX)

Bank of New York Mellon Corp increased its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,383,830 shares of the transportation company's stock after buying an additional 5,033,743 shares during the period. Bank of New York Mellon Corp owned 1.51% of CSX worth $835,336,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after acquiring an additional 849 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in CSX during the fourth quarter worth $31,000. Atria Investments Inc increased its holdings in CSX by 40.2% during the fourth quarter. Atria Investments Inc now owns 96,224 shares of the transportation company's stock worth $3,105,000 after buying an additional 27,606 shares during the last quarter. Proficio Capital Partners LLC boosted its position in 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 purchasing an additional 3,159 shares during the period. Finally, Raymond James Financial Inc. bought a new position in CSX during the fourth quarter worth $85,959,000. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CSX. Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price objective (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. Citigroup upped their price objective on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday. Argus set a $32.00 target price on shares of CSX in a research report on Friday, April 25th. Wells Fargo & Company increased their target price on CSX from $28.00 to $35.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, UBS Group dropped their price objective on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.41.

CSX Stock Performance

NASDAQ:CSX traded down $0.06 on Wednesday, hitting $33.33. The stock had a trading volume of 7,152,073 shares, compared to its average volume of 13,309,163. The stock has a market cap of $62.61 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.90 and a beta of 1.23. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. The business's 50-day simple moving average is $31.41 and its two-hundred day simple moving average is $31.08. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The firm had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. As a group, research analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, May 30th. CSX's dividend payout ratio is presently 31.14%.

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.