D.B. Root & Company LLC Sells 9,342 Shares of CSX Corporation $CSX

Key Points

• D.B. Root & Company LLC reduced its stake in CSX Corporation by 18.1%, falling to 42,180 shares valued at approximately $1.24 million.
• CSX received several upgrades from analysts, with target prices ranging from $38.00 to $41.00, reflecting a generally positive outlook on the stock.
• The company reported $0.44 earnings per share, beating analysts' expectations, despite a 3.5% decline in quarterly revenue compared to last year.

D.B. Root & Company LLC lowered its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 18.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,180 shares of the transportation company's stock after selling 9,342 shares during the period. D.B. Root & Company LLC's holdings in CSX were worth $1,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1832 Asset Management L.P. lifted its position in shares of CSX by 5.2% in the first quarter. 1832 Asset Management L.P. now owns 48,163 shares of the transportation company's stock worth $1,417,000 after purchasing an additional 2,398 shares in the last quarter. Compound Planning Inc. boosted its position in shares of CSX by 6.7% during the 1st quarter. Compound Planning Inc. now owns 15,414 shares of the transportation company's stock valued at $454,000 after acquiring an additional 971 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of CSX by 12.5% during the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock worth $690,359,000 after purchasing an additional 2,599,518 shares in the last quarter. Norinchukin Bank The increased its stake in shares of CSX by 44.3% in the first quarter. Norinchukin Bank The now owns 133,555 shares of the transportation company's stock valued at $3,931,000 after buying an additional 41,011 shares in the last quarter. Finally, Summit Financial LLC lifted its position in CSX by 9.4% during the 1st quarter. Summit Financial LLC now owns 32,431 shares of the transportation company's stock valued at $954,000 after purchasing an additional 2,797 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Raymond James Financial lifted their target price on CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Barclays raised their price target on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company upped their price objective on CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $36.00 price objective (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Finally, Wall Street Zen cut CSX from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Stock Down 0.0%

Shares of CSX stock traded down $0.01 on Wednesday, reaching $32.41. 8,840,046 shares of the company were exchanged, compared to its average volume of 17,006,996. The company has a 50-day moving average of $34.34 and a 200-day moving average of $31.66. The company has a market cap of $60.41 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.45 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. CSX Corporation has a one year low of $26.22 and a one year high of $37.25.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The company had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same period last year, the business earned $0.49 EPS. CSX's quarterly revenue was down 3.5% compared to the same quarter last year. Analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. CSX's dividend payout ratio is currently 32.10%.

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.