Zurcher Kantonalbank Zurich Cantonalbank Purchases 34,730 Shares of CSX Co. (NASDAQ:CSX)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CSX Co. (NASDAQ:CSX) by 5.0% in the fourth quarter, HoldingsChannel reports. The firm owned 723,344 shares of the transportation company’s stock after acquiring an additional 34,730 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CSX were worth $25,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of CSX in the 4th quarter worth $27,000. Life Planning Partners Inc bought a new position in shares of CSX in the 4th quarter worth $27,000. Fortis Capital Advisors LLC bought a new position in shares of CSX in the 4th quarter worth $27,000. Venturi Wealth Management LLC raised its position in shares of CSX by 228.4% in 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 in the last quarter. Finally, Janiczek Wealth Management LLC raised its position in shares of CSX by 897.2% in the 3rd quarter. Janiczek Wealth Management LLC now owns 1,067 shares of the transportation company’s stock worth $33,000 after acquiring an additional 960 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSX. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Stifel Nicolaus boosted their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Raymond James boosted their target price on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 target price on shares of CSX in a research note on Thursday, January 25th. Finally, TD Cowen boosted their target price on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.28.

CSX Price Performance

CSX stock opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The business has a 50 day simple moving average of $36.98 and a 200-day simple moving average of $34.32. The firm has a market capitalization of $66.87 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. Equities research analysts anticipate that CSX Co. will post 1.97 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is currently 26.09%.

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.