Keybank National Association OH Lowers Holdings in CSX Corporation (NASDAQ:CSX)

Keybank National Association OH reduced its position in CSX Corporation (NASDAQ:CSX - Free Report) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 535,077 shares of the transportation company's stock after selling 14,971 shares during the quarter. Keybank National Association OH's holdings in CSX were worth $15,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Portside Wealth Group LLC grew its position in CSX by 1.3% during the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after acquiring an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC boosted its stake in shares of CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after purchasing an additional 363 shares in the last quarter. Family Legacy Inc. grew its holdings in shares of CSX by 0.6% during the 4th quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company's stock valued at $2,190,000 after purchasing an additional 375 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its position in CSX by 1.2% in the 1st 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 period. Finally, Faithward Advisors LLC raised its position in CSX by 1.7% in the 4th 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 period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Down 0.5%

Shares of CSX stock traded down $0.18 during mid-day trading on Friday, reaching $33.43. 5,638,784 shares of the company's stock traded hands, compared to its average volume of 13,303,420. The company's 50-day moving average price is $31.20 and its 200-day moving average price is $31.06. The company has a market cap of $62.80 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.94 and a beta of 1.23. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10.

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

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. CSX's dividend payout ratio is currently 31.14%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Citigroup dropped their price objective on CSX from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Benchmark reiterated a "buy" rating and set a $35.00 price target on shares of CSX in a report on Thursday, April 17th. Bank of America boosted their price target on CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Finally, Barclays dropped their price objective on CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.14.

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.