AdvisorNet Financial Inc Trims Position in CSX Co. (NASDAQ:CSX)

AdvisorNet Financial Inc lowered its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 22.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,622 shares of the transportation company's stock after selling 28,079 shares during the quarter. AdvisorNet Financial Inc's holdings in CSX were worth $2,814,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CSX. Geode Capital Management LLC lifted its position in shares of CSX by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock valued at $1,339,555,000 after buying an additional 726,507 shares during the last quarter. Invesco Ltd. increased its stake in CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after acquiring an additional 2,977,212 shares during the last quarter. Fisher Asset Management LLC increased its stake in CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after acquiring an additional 299,536 shares during the last quarter. Norges Bank purchased a new position in shares of CSX during the 4th quarter valued at about $780,194,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock valued at $753,507,000 after buying an additional 6,730,316 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Stock Up 1.6%

NASDAQ:CSX traded up $0.49 during trading hours on Tuesday, reaching $31.73. 7,239,416 shares of the company traded hands, compared to its average volume of 13,004,543. The business's 50-day moving average price is $29.08 and its two-hundred day moving average price is $31.43. The stock has a market capitalization of $59.61 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.92 and a beta of 1.22. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. Analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, May 30th. CSX's dividend payout ratio is currently 31.14%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Raymond James reissued an "outperform" rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a report on Thursday, April 17th. Susquehanna reduced their price target on CSX from $37.00 to $35.00 and set a "positive" rating on the stock in a research report on Thursday, April 17th. UBS Group reduced their price target on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Evercore ISI reduced their price target on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, BMO Capital Markets reduced their price target on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.95.

CSX Company 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.