Fingerlakes Wealth Management Inc. Has $983,000 Position in CSX Corporation (NASDAQ:CSX)

Fingerlakes Wealth Management Inc. cut its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 20.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,395 shares of the transportation company's stock after selling 8,812 shares during the quarter. Fingerlakes Wealth Management Inc.'s holdings in CSX were worth $983,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Portside Wealth Group LLC raised its holdings in CSX by 1.3% in the 1st 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 in the last quarter. Ullmann Wealth Partners Group LLC lifted its position in CSX by 1.3% during the first quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock worth $862,000 after purchasing an additional 363 shares during the period. Family Legacy Inc. boosted its position 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 worth $2,190,000 after acquiring an additional 375 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in shares of CSX by 1.2% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after acquiring an additional 378 shares in the last quarter. Finally, Faithward Advisors LLC boosted its position in shares of CSX by 1.7% during the 4th quarter. Faithward Advisors LLC now owns 23,841 shares of the transportation company's stock worth $769,000 after acquiring an additional 392 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Trading Up 0.6%

CSX opened at $33.54 on Friday. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. 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 company's 50-day moving average is $31.62 and its 200 day moving average is $31.10. The firm has a market capitalization of $63.01 billion, a PE ratio of 20.08, a P/E/G ratio of 2.93 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last released 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). CSX had a return on equity of 26.42% and a net margin of 22.66%. The firm had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. As a group, research analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.55%. CSX's dividend payout ratio (DPR) is presently 31.14%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a "neutral" rating and issued a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Robert W. Baird assumed coverage on CSX in a research note on Tuesday, July 1st. They set an "outperform" rating and a $38.00 target price for the company. Royal Bank Of Canada dropped their price objective 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. Argus set a $32.00 price objective on CSX in a report on Friday, April 25th. Finally, BMO Capital Markets cut their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Nine equities 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.64.

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.

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