Zurcher Kantonalbank Zurich Cantonalbank Has $26.23 Million Position in CSX Co. (NASDAQ:CSX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CSX Co. (NASDAQ:CSX) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 812,683 shares of the transportation company’s stock after purchasing an additional 11,331 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CSX were worth $26,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valley Wealth Managers Inc. grew its holdings in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new position in shares of CSX during the 4th quarter worth approximately $33,000. Addison Advisors LLC increased its holdings in shares of CSX by 348.5% during the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after acquiring an additional 812 shares during the last quarter. Finally, Center for Financial Planning Inc. raised its stake in CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Trading Down 3.7 %

CSX opened at $29.52 on Wednesday. The stock has a market capitalization of $55.93 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.92 and a beta of 1.25. 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 Co. has a twelve month low of $29.50 and a twelve month high of $38.14. The company has a 50-day simple moving average of $32.39 and a 200 day simple moving average of $33.58.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Raymond James reaffirmed an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, January 10th. Barclays reduced their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Loop Capital lowered CSX from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.