Howard Capital Management Inc. Has $1.48 Million Holdings in CSX Corporation (NASDAQ:CSX)

Key Points

• Howard Capital Management Inc. has reduced its holdings in CSX Corporation by 13.3%, now owning 50,180 shares worth approximately $1.48 million after selling 7,672 shares in the first quarter.
• Multiple analysts have updated their ratings and price targets for CSX, with Stifel Nicolaus lowering its target from $37 to $34 while Wells Fargo increased it from $35 to $37, indicating mixed opinions in the market.
• CSX recently announced a quarterly dividend of $0.13 per share, representing a 1.47% dividend yield, with a payout ratio currently at 32.10%.

Howard Capital Management Inc. reduced its position in CSX Corporation (NASDAQ:CSX - Free Report) by 13.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,180 shares of the transportation company's stock after selling 7,672 shares during the period. Howard Capital Management Inc.'s holdings in CSX were worth $1,477,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. bought a new position in CSX in the fourth quarter worth about $27,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of CSX in the first quarter valued at approximately $30,000. Finally, Rossby Financial LCC acquired a new position in shares of CSX during the first quarter valued at approximately $28,000. Institutional investors own 73.57% of the company's stock.

CSX Stock Performance

CSX traded down $0.53 during trading on Friday, hitting $35.01. The stock had a trading volume of 19,265,718 shares, compared to its average volume of 20,105,130. The firm has a market cap of $65.27 billion, a PE ratio of 21.61, a P/E/G ratio of 2.66 and a beta of 1.25. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The company has a 50 day simple moving average of $33.14 and a 200-day simple moving average of $31.38.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. Analysts expect that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX's payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CSX shares. Evercore ISI lowered their price objective on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Stifel Nicolaus decreased their price target on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Sanford C. Bernstein restated a "market perform" rating and issued a $36.00 price target (up previously from $33.00) on shares of CSX in a research report on Tuesday, July 8th. UBS Group decreased their price target on shares of CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Jefferies Financial Group decreased their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

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.