CSX Corporation (NASDAQ:CSX) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC reduced its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 29.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,653 shares of the transportation company's stock after selling 10,515 shares during the period. Perigon Wealth Management LLC's holdings in CSX were worth $726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of CSX during the fourth quarter valued at $780,194,000. Ameriprise Financial Inc. lifted its position in CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock worth $673,025,000 after acquiring an additional 9,863,587 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in CSX by 471.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock valued at $217,808,000 after purchasing an additional 5,568,624 shares during the last quarter. Fiduciary Management Inc. WI acquired a new position in shares of CSX in the fourth quarter valued at about $178,259,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of CSX in the fourth quarter valued at about $117,133,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ CSX traded up $0.84 during trading on Tuesday, hitting $33.47. The company had a trading volume of 12,862,792 shares, compared to its average volume of 13,311,627. The firm has a market capitalization of $62.88 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23. The stock has a fifty day simple moving average of $30.75 and a two-hundred day simple moving average of $31.02. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week 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 the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. On average, research analysts expect 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. Shareholders of record on Friday, May 30th were issued a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.55%. CSX's payout ratio is currently 31.14%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group dropped their target price on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Barclays decreased their price objective on shares of CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Evercore ISI cut 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. Benchmark restated a "buy" rating and set a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Finally, Jefferies Financial Group lowered their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $34.14.

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.