Canandaigua National Bank & Trust Co. Purchases 375 Shares of CSX Co. (NASDAQ:CSX)

Canandaigua National Bank & Trust Co. grew its position in shares of CSX Co. (NASDAQ:CSX) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,637 shares of the transportation company’s stock after purchasing an additional 375 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in CSX were worth $713,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado grew its position in CSX by 718.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 287,062 shares of the transportation company’s stock valued at $9,952,000 after purchasing an additional 252,006 shares during the period. Envestnet Asset Management Inc. boosted its holdings in CSX by 1.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,503,238 shares of the transportation company’s stock worth $86,787,000 after acquiring an additional 42,941 shares during the last quarter. Morningstar Investment Services LLC purchased a new position in CSX during the 4th quarter worth $347,000. AdvisorShares Investments LLC purchased a new position in CSX during the 4th quarter worth $462,000. Finally, Schroder Investment Management Group boosted its holdings in CSX by 18.9% during the 4th quarter. Schroder Investment Management Group now owns 803,982 shares of the transportation company’s stock worth $27,874,000 after acquiring an additional 128,032 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CSX shares. Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Finally, Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

CSX Price Performance

CSX traded up $0.37 during midday trading on Friday, hitting $34.49. The stock had a trading volume of 10,243,425 shares, compared to its average volume of 11,546,590. The company has a market cap of $67.43 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. The business has a fifty day moving average of $33.97 and a 200 day moving average of $34.15. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. As a group, equities analysts forecast that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. CSX’s dividend payout ratio (DPR) is 26.37%.

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.