First National Advisers LLC Cuts Stake in CSX Corporation (NASDAQ:CSX)

Key Points

• First National Advisers LLC decreased its stake in CSX Corporation by 49.7%, now holding 72,752 shares worth approximately $2.14 million.
• CSX's recent quarterly earnings report showed an EPS of $0.44, exceeding analysts' estimates, despite a 3.5% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.13 per share, representing an annualized yield of 1.45% and a payout ratio of 32.10%.

First National Advisers LLC reduced its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 49.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,752 shares of the transportation company's stock after selling 71,894 shares during the period. First National Advisers LLC's holdings in CSX were worth $2,141,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Rossby Financial LCC purchased a new position in shares of CSX during the first quarter valued at approximately $28,000. Accredited Wealth Management LLC purchased a new position in shares of CSX during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of CSX during the first quarter valued at approximately $30,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

CSX stock traded up $0.01 during trading on Thursday, reaching $35.30. The stock had a trading volume of 8,757,220 shares, compared to its average volume of 15,955,518. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The stock's 50 day moving average is $32.96 and its two-hundred day moving average is $31.33. The firm has a market cap of $65.80 billion, a PE ratio of 21.80, a PEG ratio of 2.65 and a beta of 1.23. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10.

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

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, August 29th. CSX's payout ratio is 32.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CSX shares. Raymond James Financial lifted their price target on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price target on CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Citigroup lifted their price target on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Robert W. Baird lifted their price target on CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Stifel Nicolaus dropped their price target on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Seven research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

About CSX

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.