Cambridge Investment Research Advisors Inc. Sells 16,626 Shares of CSX Corporation (NASDAQ:CSX)

Cambridge Investment Research Advisors Inc. cut its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 611,952 shares of the transportation company's stock after selling 16,626 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in CSX were worth $18,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in CSX in the fourth quarter worth $27,000. Accredited Wealth Management LLC acquired a new stake in CSX during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of CSX during the 4th quarter worth approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings 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 during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of several recent research reports. Benchmark restated a "buy" rating and set a $35.00 price target on shares of CSX in a research report on Thursday, April 17th. BMO Capital Markets cut their target price on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Argus set a $32.00 price target on CSX in a research report on Friday, April 25th. Royal Bank Of Canada lowered their price target on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Finally, Stifel Nicolaus lowered their target price 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 analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.14.

CSX Stock Up 0.2%

NASDAQ CSX traded up $0.06 on Tuesday, reaching $32.48. The stock had a trading volume of 12,871,257 shares, compared to its average volume of 13,308,276. The company has a market capitalization of $61.02 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 2.84 and a beta of 1.24. The business has a 50 day moving average price of $30.34 and a 200 day moving average price of $31.07. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) 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 the consensus estimate of $3.53 billion. On average, analysts forecast 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. Shareholders of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Friday, May 30th. CSX's dividend payout ratio (DPR) is 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.