Gibraltar Capital Management Inc. Sells 15,046 Shares of CSX Corporation (NASDAQ:CSX)

Gibraltar Capital Management Inc. reduced its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,988 shares of the transportation company's stock after selling 15,046 shares during the quarter. Gibraltar Capital Management Inc.'s holdings in CSX were worth $588,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSX. Portside Wealth Group LLC lifted its stake in shares of CSX by 1.3% in the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after buying an additional 361 shares during the period. Ullmann Wealth Partners Group LLC lifted its stake 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. lifted its stake in CSX by 0.6% during the fourth quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company's stock worth $2,190,000 after purchasing an additional 375 shares during the period. Patrick M Sweeney & Associates Inc. lifted its stake in CSX by 1.2% during the first quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after purchasing an additional 378 shares during the period. Finally, Faithward Advisors LLC lifted its stake in CSX by 1.7% during the fourth quarter. Faithward Advisors LLC now owns 23,841 shares of the transportation company's stock worth $769,000 after purchasing an additional 392 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CSX. Argus set a $32.00 price target on shares of CSX in a research note on Friday, April 25th. Evercore ISI cut their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company lifted their target price on shares of CSX from $28.00 to $35.00 and gave the company an "equal weight" rating in a research note on Monday. Bank of America lifted their target price on shares of CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. Finally, Baird R W upgraded shares of CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.45.

CSX Price Performance

Shares of NASDAQ CSX traded down $0.55 during trading hours on Monday, hitting $33.05. 11,868,762 shares of the stock were exchanged, compared to its average volume of 13,312,701. 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 company has a market cap of $62.09 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23. The company's fifty day simple moving average is $31.20 and its two-hundred day simple moving average is $31.05. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10.

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). The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. On average, sell-side analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, May 30th. CSX's payout ratio is 31.14%.

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.