Canandaigua National Bank & Trust Co. Has $1.61 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Canandaigua National Bank & Trust Co. increased its position in shares of CSX Co. (NASDAQ:CSX) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,065 shares of the transportation company’s stock after acquiring an additional 465 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in CSX were worth $1,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Thompson Investment Management Inc. bought a new position in CSX in the 1st quarter valued at approximately $25,000. Kalos Management Inc. bought a new position in CSX in the 1st quarter valued at approximately $25,000. TimeScale Financial Inc. lifted its stake in CSX by 1,391.8% in the 1st quarter. TimeScale Financial Inc. now owns 910 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 849 shares during the last quarter. Fortis Capital Advisors LLC bought a new position in CSX in the 4th quarter valued at approximately $27,000. Finally, Barrett & Company Inc. bought a new position in CSX in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of several research reports. Stephens reissued an “overweight” rating and issued a $39.00 price objective on shares of CSX in a research note on Friday, July 21st. Bank of America raised shares of CSX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $36.00 in a research note on Friday, September 8th. Stifel Nicolaus increased their price objective on shares of CSX from $37.00 to $38.00 in a research note on Monday, July 17th. Susquehanna dropped their price target on shares of CSX from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $37.00 price target on shares of CSX in a research note on Friday, July 21st. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.29.

CSX Trading Up 1.4 %

NASDAQ:CSX opened at $30.92 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.21 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $62.04 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 2.54 and a beta of 1.22. The firm has a fifty day simple moving average of $31.82 and a two-hundred day simple moving average of $31.37. CSX Co. has a 12 month low of $25.80 and a 12 month high of $34.38.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, July 20th. The transportation company reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.73 billion. CSX had a net margin of 27.36% and a return on equity of 32.82%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share. Analysts expect that CSX Co. will post 1.9 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Wednesday, August 30th. CSX’s payout ratio is 22.22%.

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 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.