M&T Bank Corp Sells 23,411 Shares of CSX Corporation (NASDAQ:CSX)

M&T Bank Corp lowered its position in CSX Corporation (NASDAQ:CSX - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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.

Several other large investors also recently added to or reduced their stakes in CSX. Wellington Management Group LLP grew its holdings in CSX by 14.7% during the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after buying an additional 15,029 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in CSX by 15.1% during the 1st quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock valued at $368,000 after buying an additional 1,642 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in CSX by 9.8% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock valued at $1,141,000 after buying an additional 3,458 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in CSX by 61.4% during the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock valued at $418,000 after buying an additional 5,382 shares in the last quarter. Finally, Cercano Management LLC purchased a new position in CSX during the 4th quarter valued at about $4,869,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Performance

Shares of NASDAQ:CSX traded down $0.06 during midday trading on Wednesday, reaching $33.33. 9,174,639 shares of the company's stock traded hands, compared to its average volume of 13,309,288. The company has a market cap of $62.61 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 2.90 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 one year low of $26.22 and a one year high of $37.10. The stock has a 50 day moving average of $31.41 and a 200 day moving average of $31.08.

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

CSX Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CSX shares. Susquehanna reaffirmed a "neutral" rating and set a $35.00 target price on shares of CSX in a report on Tuesday, June 24th. Citigroup lifted their price target on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday. Jefferies Financial Group dropped their price target on CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Evercore ISI dropped their price target on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Finally, UBS Group dropped their price target on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Nine research 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $34.41.

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.