Oppenheimer & Co. Inc. lessened its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 5.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CSX. Marshall & Sterling Wealth Advisors Inc. bought a new position in CSX in the 4th quarter valued at about $27,000. Accredited Wealth Management LLC acquired a new position in shares of CSX in the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in CSX during the fourth quarter valued at approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in CSX by 219.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock valued at $34,000 after purchasing an additional 714 shares during the last quarter. Institutional investors own 73.57% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Barclays dropped their price target on CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Bank of America increased their price objective on CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Benchmark reiterated a "buy" rating and set a $35.00 price objective on shares of CSX in a research report on Thursday, April 17th. Stifel Nicolaus cut their price objective on CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company cut their price objective 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 given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.14.
Read Our Latest Stock Analysis on CSX
CSX Price Performance
NASDAQ CSX opened at $32.48 on Wednesday. The company has a 50 day simple moving average of $30.34 and a 200-day simple moving average of $31.07. 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 firm has a market capitalization 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 Corporation has a 52-week low of $26.22 and a 52-week high of $37.10.
CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. Equities research analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.
CSX Dividend Announcement
The firm also recently disclosed 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 1.60%. The ex-dividend date was Friday, May 30th. CSX's payout ratio is presently 31.14%.
CSX Company Profile
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Free Report)
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.
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