M&T Bank Corp Has $13.24 Million Stock Holdings in CSX Corporation (NASDAQ:CSX)

M&T Bank Corp decreased its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 449,922 shares of the transportation company's stock after selling 23,411 shares during the quarter. M&T Bank Corp's holdings in CSX were worth $13,241,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of CSX during the 4th quarter valued at $27,000. Rossby Financial LCC bought a new stake in shares of CSX during the 1st quarter valued at $28,000. Accredited Wealth Management LLC bought a new stake in shares of CSX during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of CSX during the 4th quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of CSX during the 1st quarter valued at $30,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Up 1.7%

NASDAQ CSX traded up $0.56 on Friday, reaching $34.10. The company had a trading volume of 27,259,122 shares, compared to its average volume of 13,377,264. The firm has a market capitalization of $64.06 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.95 and a beta of 1.23. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The company's fifty day moving average is $31.73 and its 200-day moving average is $31.11.

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 26.42% and a net margin of 22.66%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. On average, research analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.52%. CSX's dividend payout ratio is 31.14%.

Wall Street Analysts Forecast Growth

CSX has been the subject of several recent research reports. Raymond James Financial reiterated an "outperform" rating and set a $33.00 target price (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. Barclays upped their target price on shares of CSX from $31.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of CSX from $31.00 to $34.00 and gave the company an "overweight" rating in a research report on Tuesday. UBS Group lowered their price objective on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company upped their price objective on shares of CSX from $28.00 to $35.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.64.

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.