Atlantic Edge Private Wealth Management LLC Has $110,000 Holdings in CSX Corporation (NASDAQ:CSX)

Atlantic Edge Private Wealth Management LLC cut its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 84.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,725 shares of the transportation company's stock after selling 19,731 shares during the quarter. Atlantic Edge Private Wealth Management LLC's holdings in CSX were worth $110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX during the fourth quarter worth $27,000. Rossby Financial LCC bought a new stake in CSX in the 1st quarter valued at $28,000. Accredited Wealth Management LLC bought a new stake in CSX in the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX in the 4th quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in CSX in the 1st quarter valued at $30,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CSX. Benchmark reaffirmed a "buy" rating and issued a $35.00 price objective on shares of CSX in a research report on Thursday, April 17th. BMO Capital Markets lowered their price target on shares of CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Citigroup lowered their price target on shares of CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Susquehanna reiterated a "neutral" rating and issued a $35.00 price target on shares of CSX in a research note on Tuesday, June 24th. Finally, Stifel Nicolaus lowered their price target on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.45.

CSX Stock Performance

CSX traded down $0.55 on Monday, reaching $33.05. The company had a trading volume of 11,868,762 shares, compared to its average volume of 13,312,701. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The stock has a market cap of $62.09 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.94 and a beta of 1.23. The company's fifty day moving average is $31.20 and its 200 day moving average is $31.05. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. As a group, analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.57%. CSX's dividend payout ratio (DPR) is currently 31.14%.

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.