Toronto Dominion Bank Raises Stake in CSX Co. (NASDAQ:CSX)

Toronto Dominion Bank raised its holdings in CSX Co. (NASDAQ:CSX) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,195,702 shares of the transportation company’s stock after acquiring an additional 18,464 shares during the period. Toronto Dominion Bank owned approximately 0.06% of CSX worth $44,325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after buying an additional 9,914,656 shares in the last quarter. Capital International Investors raised its holdings in shares of CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after buying an additional 5,041,679 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of CSX by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after buying an additional 470,640 shares in the last quarter. Norges Bank purchased a new position in shares of CSX during the 4th quarter valued at about $757,276,000. Finally, Charles Schwab Investment Management Inc. grew its position in CSX by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock worth $388,922,000 after acquiring an additional 135,169 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 2.1 %

Shares of CSX stock traded up $0.72 during mid-day trading on Friday, hitting $34.32. The company’s stock had a trading volume of 9,975,620 shares, compared to its average volume of 11,809,636. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The business has a 50-day moving average price of $33.45 and a 200 day moving average price of $35.04. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock has a market cap of $67.09 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.80 and a beta of 1.20.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, August 30th. CSX’s payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CSX shares. UBS Group cut their price objective on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company started coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective on the stock. Jefferies Financial Group lowered their target price on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Monday, July 8th. Finally, Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.14.

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.