Comerica Bank Has $16.78 Million Holdings in CSX Co. (NASDAQ:CSX)

Comerica Bank increased its holdings in CSX Co. (NASDAQ:CSX) by 24.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,964 shares of the transportation company’s stock after buying an additional 102,157 shares during the period. Comerica Bank’s holdings in CSX were worth $16,779,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSX. Bridgewealth Advisory Group LLC acquired a new position in CSX in the 4th quarter valued at $371,000. Voleon Capital Management LP acquired a new position in CSX in the fourth quarter valued at about $9,303,000. AQR Capital Management LLC lifted its position in CSX by 88.4% during the fourth quarter. AQR Capital Management LLC now owns 1,099,784 shares of the transportation company’s stock worth $35,490,000 after purchasing an additional 515,906 shares during the period. Candlestick Capital Management LP bought a new stake in CSX during the fourth quarter worth about $50,074,000. Finally, Lido Advisors LLC increased its holdings in CSX by 1.9% in the 4th quarter. Lido Advisors LLC now owns 54,573 shares of the transportation company’s stock valued at $1,761,000 after buying an additional 1,027 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock opened at $28.11 on Friday. The stock’s 50 day moving average is $29.18 and its 200 day moving average is $32.10. CSX Co. has a one year low of $26.22 and a one year high of $37.10. The firm has a market cap of $52.81 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.85%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 31.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSX. Benchmark reaffirmed a “buy” rating and set a $35.00 price target on shares of CSX in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Stephens reissued an “overweight” rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Bank of America reduced their price objective on CSX from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company lowered their target price on CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.86.

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.