Amalgamated Bank Reduces Position in CSX Co. (NASDAQ:CSX)

Amalgamated Bank reduced its position in CSX Co. (NASDAQ:CSX) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 487,142 shares of the transportation company’s stock after selling 26,030 shares during the quarter. Amalgamated Bank’s holdings in CSX were worth $16,889,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CSX. High Net Worth Advisory Group LLC boosted its stake in CSX by 1.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after buying an additional 304 shares during the period. Stratos Wealth Advisors LLC raised its position in CSX by 1.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after purchasing an additional 304 shares during the period. Cornercap Investment Counsel Inc. lifted its stake in CSX by 0.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after purchasing an additional 309 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its position in shares of CSX by 2.4% during the third quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock worth $434,000 after buying an additional 349 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in shares of CSX by 2.0% in the third quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock valued at $552,000 after buying an additional 352 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CSX. Raymond James upped their target price on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Royal Bank of Canada cut their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Bank of America decreased their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Susquehanna upped their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

CSX Price Performance

CSX stock traded up $0.28 on Friday, reaching $33.85. 6,617,956 shares of the company’s stock were exchanged, compared to its average volume of 12,311,956. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average of $36.32 and a 200-day moving average of $34.52. The firm has a market cap of $66.17 billion, a PE ratio of 18.60, a P/E/G ratio of 1.99 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.48 EPS. As a group, equities analysts predict that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is presently 26.37%.

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.