Kestra Advisory Services LLC Trims Stock Position in CSX Corporation $CSX

Key Points

• Kestra Advisory Services LLC reduced its holdings in CSX Corporation by 10.1%, now owning 197,208 shares valued at approximately $5.8 million.
• CSX announced a quarterly dividend of $0.13 per share, resulting in an annual yield of 1.6%, with the payout ratio currently at 32.10%.
• CSX's most recent earnings report showed an EPS of $0.44, exceeding estimates, though revenue decreased by 3.5% compared to the previous year.

Kestra Advisory Services LLC reduced its position in CSX Corporation (NASDAQ:CSX - Free Report) by 10.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,208 shares of the transportation company's stock after selling 22,150 shares during the quarter. Kestra Advisory Services LLC's holdings in CSX were worth $5,804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX in the 4th quarter worth about $27,000. Accredited Wealth Management LLC purchased a new stake in CSX in the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC purchased a new stake in CSX in the 4th quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in CSX in the 1st quarter valued at about $30,000. Finally, Rossby Financial LCC purchased a new stake in CSX in the 1st quarter valued at about $28,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSX has been the topic of a number of research reports. Susquehanna reissued a "neutral" rating and set a $35.00 target price on shares of CSX in a research report on Tuesday, June 24th. Royal Bank Of Canada reissued a "sector perform" rating on shares of CSX in a research report on Thursday, July 24th. Robert W. Baird raised their target price 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. Wall Street Zen lowered shares of CSX from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Finally, Barclays increased their price target on shares of CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Stock Performance

Shares of CSX stock traded down $0.15 on Friday, hitting $32.51. The company had a trading volume of 13,464,388 shares, compared to its average volume of 17,100,004. The firm has a market cap of $60.61 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.25. The company has a 50-day moving average price of $34.36 and a 200-day moving average price of $31.67. 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 $37.25.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating 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 firm had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same period last year, the firm earned $0.49 EPS. The company's quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. CSX's payout ratio is presently 32.10%.

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.