OneDigital Investment Advisors LLC Lowers Holdings in CSX Corporation (NASDAQ:CSX)

OneDigital Investment Advisors LLC cut its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,616 shares of the transportation company's stock after selling 9,620 shares during the quarter. OneDigital Investment Advisors LLC's holdings in CSX were worth $2,314,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CSX. Wellington Management Group LLP lifted its position in shares of CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after buying an additional 15,029 shares during the last quarter. CWA Asset Management Group LLC lifted its position in CSX by 15.1% during the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock valued at $368,000 after acquiring an additional 1,642 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of CSX by 9.8% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock valued at $1,141,000 after purchasing an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC raised its stake in CSX by 61.4% in the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock valued at $418,000 after buying an additional 5,382 shares during the last quarter. Finally, Cercano Management LLC purchased a new position in shares of CSX in the 4th quarter valued at approximately $4,869,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Price Performance

Shares of CSX stock traded up $0.34 during trading hours on Tuesday, reaching $33.39. The company had a trading volume of 1,617,559 shares, compared to its average volume of 13,267,142. 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 stock has a fifty day moving average of $31.30 and a 200-day moving average of $31.06. The company has a market capitalization of $62.72 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.94 and a beta of 1.23. 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 results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. On average, equities analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, May 30th. CSX's dividend payout ratio is currently 31.14%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of research analyst reports. Benchmark restated a "buy" rating and issued a $35.00 target price on shares of CSX in a research note on Thursday, April 17th. BMO Capital Markets cut their target price on shares of CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Baird R W upgraded CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Jefferies Financial Group reduced their target price on CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of CSX in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, CSX presently has an average rating of "Moderate Buy" and a consensus target price of $34.45.

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.