CSX Corporation (NASDAQ:CSX) Shares Sold by Howard Capital Management Inc.

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. lessened its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent Form 13F 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of CSX during the fourth quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new position in shares of CSX during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of CSX during the fourth quarter worth $29,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of CSX in the first quarter valued at approximately $30,000. Finally, Rossby Financial LCC purchased a new position in CSX in the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSX. The Goldman Sachs Group reiterated a "neutral" rating and issued a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Benchmark boosted their price objective on shares of CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Citigroup boosted their price target on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Robert W. Baird boosted their price target on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Stifel Nicolaus reduced their price target 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. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CSX presently has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Up 1.0%

Shares of CSX traded up $0.37 during trading on Monday, reaching $35.38. The company's stock had a trading volume of 8,621,558 shares, compared to its average volume of 16,047,286. The company has a market cap of $65.95 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a fifty day moving average of $33.14 and a two-hundred day moving average of $31.36. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the firm earned $0.49 earnings per share. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, sell-side analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

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

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.