M&T Bank Corp Sells 9,783 Shares of CSX Co. (NASDAQ:CSX)

M&T Bank Corp trimmed its position in CSX Co. (NASDAQ:CSX) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 533,583 shares of the transportation company’s stock after selling 9,783 shares during the period. M&T Bank Corp’s holdings in CSX were worth $18,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CSX. Fortitude Family Office LLC purchased a new stake in CSX in the fourth quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new stake in shares of CSX during the 4th quarter valued at $27,000. Venturi Wealth Management LLC lifted its holdings in shares of CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after acquiring an additional 692 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in CSX in the fourth quarter worth $34,000. Finally, Avion Wealth increased its stake in CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 820 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Trading Up 0.8 %

CSX stock traded up $0.28 on Friday, reaching $33.85. The company’s stock had a trading volume of 6,618,097 shares, compared to its average volume of 14,806,096. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The business has a fifty day simple moving average of $36.23 and a two-hundred day simple moving average of $34.54. The firm has a market cap of $66.17 billion, a PE ratio of 18.60, a PEG ratio of 2.03 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company posted $0.48 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts forecast that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CSX shares. TD Cowen upped their price objective on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Royal Bank of Canada cut their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Raymond James lifted their price target on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. Finally, Stifel Nicolaus lifted their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.00.

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.