First National Trust Co Cuts Stock Holdings in CSX Corporation (NASDAQ:CSX)

Key Points

• First National Trust Co reduced its holdings in CSX Corporation by 55.3%, decreasing its shares from 35,303 to 15,795.
• CSX Corporation reported $0.44 earnings per share in its latest quarter, exceeding analyst expectations, even though revenue fell 3.5% year-over-year.
• The company announced a quarterly dividend of $0.13 per share, reflecting a 1.5% yield and a payout ratio of 32.10%.

First National Trust Co decreased its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 55.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,795 shares of the transportation company's stock after selling 19,508 shares during the period. First National Trust Co's holdings in CSX were worth $465,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CSX. Vestcor Inc increased its holdings in shares of CSX by 5.6% during the 1st quarter. Vestcor Inc now owns 78,871 shares of the transportation company's stock worth $2,321,000 after buying an additional 4,152 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of CSX by 397.0% during the 1st quarter. XTX Topco Ltd now owns 231,249 shares of the transportation company's stock worth $6,806,000 after buying an additional 184,721 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of CSX by 5.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 119,682 shares of the transportation company's stock worth $3,520,000 after buying an additional 6,190 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of CSX during the 1st quarter worth approximately $1,402,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of CSX during the 1st quarter worth approximately $4,465,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

CSX traded up $0.14 on Tuesday, hitting $35.60. 5,387,524 shares of the company were exchanged, compared to its average volume of 16,009,134. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The business's fifty day moving average is $33.23 and its 200 day moving average is $31.38. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The firm has a market capitalization of $66.36 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25.

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

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX's dividend payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Bank of America raised shares of CSX from a "neutral" rating to a "buy" rating and raised their price target for the company from $34.00 to $42.00 in a research report on Thursday, July 17th. Robert W. Baird set a $44.00 price objective on shares of CSX and gave the stock an "outperform" rating in a research report on Friday, July 25th. Barclays lifted their price objective on shares of CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price objective on shares of CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.