CSX Corporation (NASDAQ:CSX) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 28.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,564 shares of the transportation company's stock after selling 9,165 shares during the period. Avidian Wealth Enterprises LLC's holdings in CSX were worth $664,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CSX. Portside Wealth Group LLC raised its stake in CSX by 1.3% in the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after buying an additional 361 shares in the last quarter. Ullmann Wealth Partners Group LLC grew its holdings in shares of CSX by 1.3% during the first quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock worth $862,000 after purchasing an additional 363 shares during the last quarter. Family Legacy Inc. grew its holdings in shares of CSX by 0.6% during the fourth quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company's stock worth $2,190,000 after purchasing an additional 375 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in shares of CSX by 1.2% during the first quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after purchasing an additional 378 shares during the last quarter. Finally, Faithward Advisors LLC grew its holdings in shares of CSX by 1.7% during the fourth quarter. Faithward Advisors LLC now owns 23,841 shares of the transportation company's stock worth $769,000 after purchasing an additional 392 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Evercore ISI lowered their price target on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Jefferies Financial Group reduced their price objective on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Argus set a $32.00 price target on shares of CSX in a research report on Friday, April 25th. BMO Capital Markets dropped their price target on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $35.00 price target on shares of CSX in a research report on Monday, June 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.14.

CSX Stock Up 1.0%

NASDAQ:CSX opened at $32.91 on Monday. The firm has a market capitalization of $61.82 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.88 and a beta of 1.24. The stock has a 50 day moving average of $30.64 and a 200-day moving average of $31.03. CSX Corporation has a 52 week low of $26.22 and a 52 week 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 posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. Analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend 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.

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