Toronto Dominion Bank Acquires 95,004 Shares of CSX Co. (NASDAQ:CSX)

Toronto Dominion Bank boosted its stake in CSX Co. (NASDAQ:CSX - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,146,032 shares of the transportation company's stock after buying an additional 95,004 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of CSX worth $36,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the fourth quarter worth $27,000. Accredited Wealth Management LLC purchased a new position in CSX in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new position in CSX in the 4th quarter worth about $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX during the 4th quarter worth about $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of CSX by 219.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock valued at $34,000 after buying an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

CSX has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research report on Friday, March 7th. They issued a "hold" rating and a $34.00 target price for the company. Jefferies Financial Group cut their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. 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. Finally, Raymond James reiterated an "outperform" rating and issued a $33.00 price objective (down from $34.00) on shares of CSX in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, CSX has an average rating of "Moderate Buy" and an average price target of $33.90.

CSX Stock Performance

NASDAQ CSX traded up $0.15 during trading on Thursday, hitting $30.64. The company's stock had a trading volume of 18,429,777 shares, compared to its average volume of 12,910,765. The firm has a market cap of $57.56 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The firm has a 50 day moving average price of $28.89 and a 200 day moving average price of $31.73. The company has a quick ratio of 1.23, a current ratio of 0.86 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.70%. CSX's dividend payout ratio is 31.14%.

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.