Argent Trust Co Has $2.98 Million Stake in CSX Co. (NASDAQ:CSX)

Argent Trust Co increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,232 shares of the transportation company’s stock after acquiring an additional 2,947 shares during the period. Argent Trust Co’s holdings in CSX were worth $2,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Zuckerman Investment Group LLC bought a new position in CSX in the 4th quarter worth approximately $251,000. Neuberger Berman Group LLC raised its stake in shares of CSX by 7.8% during the fourth quarter. Neuberger Berman Group LLC now owns 13,531,732 shares of the transportation company’s stock worth $436,632,000 after buying an additional 979,215 shares during the last quarter. Scotia Capital Inc. lifted its holdings in CSX by 31.3% in the fourth quarter. Scotia Capital Inc. now owns 181,552 shares of the transportation company’s stock valued at $5,859,000 after buying an additional 43,235 shares during the period. Faithward Advisors LLC boosted its position in shares of CSX by 1.7% in the 4th quarter. Faithward Advisors LLC now owns 23,841 shares of the transportation company’s stock worth $769,000 after purchasing an additional 392 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in CSX by 232.1% in the fourth quarter. APG Asset Management N.V. now owns 1,060,800 shares of the transportation company’s stock valued at $33,058,000 after buying an additional 741,394 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Down 2.9 %

Shares of CSX stock opened at $27.82 on Friday. The stock has a market cap of $52.43 billion, a PE ratio of 15.54, a PEG ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm has a 50-day moving average of $30.68 and a 200-day moving average of $32.76. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. As a group, sell-side analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CSX shares. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Stephens reaffirmed an “overweight” rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Citigroup reduced their price objective on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company reduced their target price on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Seven investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.85.

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.