Avantax Advisory Services Inc. Decreases Holdings in CSX Corporation (NASDAQ:CSX)

Key Points

• Avantax Advisory Services Inc. reduced its stake in CSX Corporation by 5.4%, owning 170,985 shares worth approximately $5.03 million after selling 9,725 shares in the first quarter.
• Analysts' target prices for CSX stock include an increase from Barclays to $38.00 and from Robert W. Baird to $44.00, with an average target of $37.00 and an overall rating of "Moderate Buy."
• CSX recently declared a quarterly dividend of $0.13 per share, yielding 1.45%, with a payout ratio of 32.10% as of its last filing.

Avantax Advisory Services Inc. lowered its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 5.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 170,985 shares of the transportation company's stock after selling 9,725 shares during the period. Avantax Advisory Services Inc.'s holdings in CSX were worth $5,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ameriprise Financial Inc. grew its position in CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after buying an additional 9,863,587 shares in the last quarter. Fiduciary Management Inc. WI bought a new position in shares of CSX in the fourth quarter valued at approximately $178,259,000. Bank of New York Mellon Corp boosted its holdings in shares of CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after acquiring an additional 5,033,743 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in CSX by 1,283.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock valued at $123,786,000 after purchasing an additional 3,887,644 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CSX during the 4th quarter valued at $117,133,000. Institutional investors own 73.57% of the company's stock.

CSX Stock Up 0.0%

CSX traded up $0.01 during mid-day trading on Thursday, reaching $35.30. 5,532,025 shares of the stock were exchanged, compared to its average volume of 15,931,309. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The stock has a market capitalization of $65.81 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.65 and a beta of 1.23. The company has a 50 day moving average price of $32.96 and a two-hundred day moving average price of $31.33. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly 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 company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. As a group, research analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 dividend on an annualized basis and a yield of 1.47%. CSX's dividend payout ratio (DPR) is 32.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group restated a "neutral" rating and set a $35.00 target price on shares of CSX in a report on Monday, June 2nd. Baird R W raised CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Citigroup raised their price objective on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Evercore ISI decreased their price target on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.