CSX Corporation (NASDAQ:CSX) Position Trimmed by First National Trust Co

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 trimmed its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 55.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX during the 4th quarter valued at $27,000. Rossby Financial LCC acquired a new stake in CSX during the 1st quarter valued at $28,000. Accredited Wealth Management LLC acquired a new stake in CSX during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new stake in CSX during the 4th quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in CSX during the 1st quarter valued at $30,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Up 0.7%

CSX stock opened at $35.54 on Friday. The firm has a market cap of $66.26 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 2.64 and a beta of 1.23. 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 fifty-two week low of $26.22 and a fifty-two week high of $37.10. The firm has a fifty day moving average price of $33.05 and a two-hundred day moving average price of $31.36.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $3.57 billion during 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 business's revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. As a group, analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSX. Susquehanna reissued a "neutral" rating and set a $35.00 target price on shares of CSX in a research note on Tuesday, June 24th. Argus set a $32.00 price target on shares of CSX in a report on Friday, April 25th. Sanford C. Bernstein restated a "market perform" rating and set a $36.00 price target (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and boosted their price target for the company from $34.00 to $42.00 in a report on Thursday, July 17th. Finally, Baird R W upgraded shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.

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