D.A. Davidson & CO. Trims Holdings in CSX Corporation (NASDAQ:CSX)

D.A. Davidson & CO. lowered its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,196 shares of the transportation company's stock after selling 20,458 shares during the quarter. D.A. Davidson & CO.'s holdings in CSX were worth $9,747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSX. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of CSX in the 4th quarter worth about $27,000. Accredited Wealth Management LLC acquired a new position in CSX in the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. bought a new stake in CSX in the fourth quarter valued at about $31,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in CSX during the first quarter valued at approximately $30,000. Institutional investors own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CSX shares. Jefferies Financial Group decreased their target price on CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Royal Bank Of Canada lowered their target price on shares of CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a research note on Thursday, April 17th. Baird R W raised shares of CSX to a "strong-buy" rating in a report on Tuesday. Barclays decreased their price target on shares of CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.14.

CSX Stock Down 0.5%

CSX opened at $33.43 on Friday. The stock's 50 day moving average price is $31.09 and its 200 day moving average price is $31.06. 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 stock 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. 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 issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, research analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, May 30th. CSX's dividend payout ratio (DPR) is presently 31.14%.

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.

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