Victory Capital Management Inc. Lowers Stock Holdings in CSX Corporation (NASDAQ:CSX)

Victory Capital Management Inc. lowered its position in CSX Corporation (NASDAQ:CSX - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,722,293 shares of the transportation company's stock after selling 61,986 shares during the period. Victory Capital Management Inc. owned about 0.09% of CSX worth $50,687,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in CSX during the fourth quarter valued at $27,000. Rossby Financial LCC purchased a new position in CSX during the first quarter valued at $28,000. Accredited Wealth Management LLC purchased a new position in shares of CSX in the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of CSX in the fourth quarter valued at about $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of CSX in the first quarter valued at about $30,000. Institutional investors own 73.57% of the company's stock.

CSX Stock Performance

Shares of CSX stock traded down $0.11 on Friday, reaching $34.39. 24,854,035 shares of the stock were exchanged, compared to its average volume of 13,576,402. 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 twelve month low of $26.22 and a twelve month high of $37.10. The firm has a market capitalization of $64.60 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.08 and a beta of 1.23. The business has a 50 day moving average price of $32.27 and a two-hundred day moving average price of $31.16.

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

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio is currently 31.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus dropped their price target on CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Raymond James Financial reissued an "outperform" rating and set a $37.00 price target (up from $33.00) on shares of CSX in a research note on Tuesday, July 15th. Evercore ISI dropped their price target on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company increased their price target on CSX from $28.00 to $35.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, Citigroup increased their price target on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.14.

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.