CSX Corporation (NASDAQ:CSX) Shares Sold by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. cut its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,245 shares of the transportation company's stock after selling 9,265 shares during the period. Burke & Herbert Bank & Trust Co.'s holdings in CSX were worth $3,009,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the 4th quarter valued at $27,000. Accredited Wealth Management LLC acquired a new position in shares of CSX in the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in shares of CSX in the 4th quarter valued at $31,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX in the 1st quarter valued at $30,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

Shares of CSX traded down $0.18 during mid-day trading on Friday, hitting $33.43. 5,638,784 shares of the company were exchanged, compared to its average volume of 13,318,513. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. The company has a 50 day moving average of $31.20 and a 200-day moving average of $31.06. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The stock has a market cap of $62.80 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results 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). CSX had a return on equity of 26.42% and a net margin of 22.66%. The business had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. Analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, May 30th. CSX's payout ratio is presently 31.14%.

Analysts Set New Price Targets

Several research firms have commented on CSX. 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 report on Thursday, April 17th. Bank of America upped their price target on shares of CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Wells Fargo & Company lowered their price target on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Jefferies Financial Group lowered their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Robert W. Baird began coverage on shares of CSX in a report on Tuesday, July 1st. They issued an "outperform" rating and a $38.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.14.

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.