Envestnet Portfolio Solutions Inc. Sells 53,639 Shares of CSX Corporation (NASDAQ:CSX)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 45.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 64,698 shares of the transportation company's stock after selling 53,639 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in CSX were worth $1,904,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Portside Wealth Group LLC increased its holdings in CSX by 1.3% during the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock worth $804,000 after purchasing an additional 361 shares in the last quarter. Ullmann Wealth Partners Group LLC increased its position 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 valued at $862,000 after acquiring an additional 363 shares during the last quarter. Family Legacy Inc. increased its position 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 valued at $2,190,000 after acquiring an additional 375 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its position 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 valued at $948,000 after acquiring an additional 378 shares during the last quarter. Finally, Faithward Advisors LLC increased its position 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 valued at $769,000 after acquiring an additional 392 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

NASDAQ CSX traded up $0.06 during trading hours on Tuesday, reaching $32.48. 12,871,257 shares of the stock traded hands, compared to its average volume of 13,308,276. The stock has a 50 day simple moving average of $30.34 and a two-hundred day simple moving average of $31.07. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The company has a market cap of $61.02 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.84 and a beta of 1.24.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The firm had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. On average, analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, May 30th. CSX's dividend payout ratio (DPR) is presently 31.14%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Benchmark reaffirmed a "buy" rating and set a $35.00 price target on shares of CSX in a research report on Thursday, April 17th. 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. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research report on Friday, March 7th. They set a "hold" rating and a $34.00 price target for the company. UBS Group decreased their price target on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company decreased their target price on CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.14.

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.