Blue Trust Inc. Sells 11,836 Shares of CSX Corporation (NASDAQ:CSX)

Blue Trust Inc. lessened its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 24.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,716 shares of the transportation company's stock after selling 11,836 shares during the quarter. Blue Trust Inc.'s holdings in CSX were worth $1,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX in the 4th quarter worth $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX in the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of CSX in the 4th quarter worth $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of CSX by 219.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock worth $34,000 after purchasing an additional 714 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. BMO Capital Markets lowered their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research report on Friday, March 7th. They issued a "hold" rating and a $34.00 price objective for the company. Stifel Nicolaus lowered their price objective on CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Benchmark restated a "buy" rating and issued a $35.00 target price on shares of CSX in a research note on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $34.14.

CSX Stock Performance

NASDAQ CSX opened at $32.24 on Friday. The stock has a 50-day simple moving average of $30.08 and a two-hundred day simple moving average of $31.16. The firm has a market capitalization of $60.56 billion, a P/E ratio of 19.31, a PEG ratio of 2.82 and a beta of 1.24. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. 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 released its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. On average, equities analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. CSX's payout ratio is currently 31.14%.

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.

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