First Horizon Advisors Inc. Sells 8,269 Shares of CSX Corporation (NASDAQ:CSX)

First Horizon Advisors Inc. lowered its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 50.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,015 shares of the transportation company's stock after selling 8,269 shares during the quarter. First Horizon Advisors Inc.'s holdings in CSX were worth $236,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX in the fourth quarter worth $27,000. Accredited Wealth Management LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new stake in CSX during the fourth quarter valued at about $31,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in CSX during the first quarter valued at about $30,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Performance

CSX stock traded up $0.39 during mid-day trading on Tuesday, hitting $33.44. The company had a trading volume of 3,878,252 shares, compared to its average volume of 13,275,651. The firm has a market cap of $62.82 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The stock's fifty day moving average price is $31.30 and its two-hundred day moving average price is $31.06.

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 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. On average, analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank Of Canada cut 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 report on Thursday, April 17th. Susquehanna reaffirmed a "neutral" rating and set a $35.00 price objective on shares of CSX in a research report on Tuesday, June 24th. Bank of America upped their price objective on shares of CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Robert W. Baird assumed coverage on shares of CSX in a research report on Tuesday, July 1st. They set an "outperform" rating and a $38.00 price objective for the company. Finally, Stifel Nicolaus cut their price objective on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and a consensus target price of $34.32.

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.