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

First Horizon Advisors Inc. trimmed its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 50.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,015 shares of the transportation company's stock after selling 8,269 shares during the period. First Horizon Advisors Inc.'s holdings in CSX were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings in CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock valued at $1,339,555,000 after purchasing an additional 726,507 shares during the period. Invesco Ltd. boosted its holdings in shares of CSX by 13.5% in the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after acquiring an additional 2,977,212 shares during the period. Norges Bank bought a new position in shares of CSX in the fourth quarter worth $780,194,000. Lazard Asset Management LLC boosted its holdings in shares of CSX by 3.5% in the fourth quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock worth $681,696,000 after acquiring an additional 707,934 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of CSX by 13.8% in the fourth quarter. Northern Trust Corp now owns 21,097,789 shares of the transportation company's stock worth $680,826,000 after acquiring an additional 2,550,929 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Trading Down 0.5%

Shares of NASDAQ CSX traded down $0.18 during trading hours on Friday, hitting $33.43. The company's stock had a trading volume of 5,638,784 shares, compared to its average volume of 13,318,513. The business has a 50-day simple moving average of $31.20 and a 200-day simple moving average of $31.06. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. The stock has a market cap of $62.80 billion, a price-to-earnings 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 posted its quarterly earnings data 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). The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. On average, analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CSX shares. Baird R W raised CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Robert W. Baird started coverage on CSX in a report on Tuesday, July 1st. They issued an "outperform" rating and a $38.00 price target for the company. Royal Bank Of Canada cut their price target on CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company cut their price target on CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Barclays cut their price target on CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Nine 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.14.

About CSX

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.