Oppenheimer & Co. Inc. Trims Stake in CSX Corporation (NASDAQ:CSX)

Oppenheimer & Co. Inc. lowered its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,584 shares of the transportation company's stock after selling 13,077 shares during the period. Oppenheimer & Co. Inc.'s holdings in CSX were worth $6,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its stake in CSX by 8.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 260,767 shares of the transportation company's stock valued at $7,674,000 after purchasing an additional 21,360 shares during the last quarter. Brown Lisle Cummings Inc. grew its stake in CSX by 368.1% in the first quarter. Brown Lisle Cummings Inc. now owns 34,802 shares of the transportation company's stock valued at $1,024,000 after purchasing an additional 27,368 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in CSX by 56.2% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,061 shares of the transportation company's stock valued at $1,650,000 after purchasing an additional 20,164 shares during the last quarter. Intact Investment Management Inc. purchased a new position in CSX in the first quarter valued at about $6,283,000. Finally, Nilsine Partners LLC grew its stake in CSX by 8.8% in the first quarter. Nilsine Partners LLC now owns 43,696 shares of the transportation company's stock valued at $1,286,000 after purchasing an additional 3,516 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Performance

Shares of CSX stock traded up $0.34 on Friday, reaching $32.91. 20,443,890 shares of the stock were exchanged, compared to its average volume of 13,309,326. 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 $61.82 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.88 and a beta of 1.24. The business has a 50 day moving average price of $30.64 and a two-hundred day moving average price of $31.04.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to analysts' expectations 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 business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, May 30th. CSX's dividend payout ratio is currently 31.14%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $33.00 target price (down previously from $34.00) on shares of CSX in a research note on Thursday, April 17th. Barclays lowered their price target on CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup lowered their price target on CSX from $39.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a report on Friday, March 7th. They issued a "hold" rating and a $34.00 price target for the company. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Monday, June 2nd. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, 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.