Janney Montgomery Scott LLC decreased its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 20.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 937,439 shares of the transportation company's stock after selling 241,642 shares during the period. Janney Montgomery Scott LLC's holdings in CSX were worth $27,589,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX in the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX in the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX during the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new position in shares of CSX during the fourth quarter worth about $31,000. Finally, Sierra Ocean LLC purchased a new stake in shares of CSX during the 4th quarter worth $33,000. Institutional investors own 73.57% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on CSX. Evercore ISI cut their price target on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus reduced their price target on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research report on Monday, June 2nd. BMO Capital Markets dropped their target price on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Finally, Argus set a $32.00 target price on CSX in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.14.
Read Our Latest Stock Analysis on CSX
CSX Stock Performance
Shares of NASDAQ CSX traded up $0.12 during mid-day trading on Thursday, hitting $32.24. The company had a trading volume of 12,808,136 shares, compared to its average volume of 13,239,340. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The firm's 50 day simple moving average is $29.99 and its two-hundred day simple moving average is $31.18. The stock has a market cap of $60.56 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.82 and a beta of 1.24. 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 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, equities research analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.
CSX Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. CSX's dividend payout ratio is currently 31.14%.
About CSX
(
Free Report)
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.
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