Fingerlakes Wealth Management Inc. Sells 8,812 Shares of CSX Corporation (NASDAQ:CSX)

Fingerlakes Wealth Management Inc. trimmed its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 20.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX during the 4th quarter valued at approximately $27,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX in the 4th quarter worth $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX in the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of CSX in the 4th quarter worth $31,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of CSX in the 1st quarter worth $30,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock traded up $0.56 during mid-day trading on Friday, reaching $34.10. 27,259,122 shares of the company were exchanged, compared to its average volume of 13,377,264. The company has a fifty day simple moving average of $31.73 and a 200-day simple moving average of $31.11. CSX Corporation has a 12 month low of $26.22 and a 12 month 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 firm has a market cap of $64.06 billion, a PE ratio of 20.42, a PEG ratio of 2.95 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results 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). CSX had a net margin of 22.66% and a return on equity of 26.42%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. As a group, equities research analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, May 30th. CSX's payout ratio is presently 31.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Susquehanna restated a "neutral" rating and set a $35.00 target price on shares of CSX in a report on Tuesday, June 24th. UBS Group cut their price objective on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Barclays increased their price objective on CSX from $31.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on CSX from $31.00 to $34.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $36.00 price target (up from $33.00) on shares of CSX in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CSX has a consensus rating of "Moderate Buy" and a consensus target price of $34.64.

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.