Shelton Wealth Management LLC trimmed its position in CSX Corporation (NASDAQ:CSX - Free Report) by 74.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,097 shares of the transportation company's stock after selling 23,410 shares during the quarter. Shelton Wealth Management LLC's holdings in CSX were worth $238,000 at the end of the most recent quarter.
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 during the 4th quarter valued at approximately $27,000. Accredited Wealth Management LLC purchased a new stake in CSX during the 4th quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new stake in CSX during the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in CSX during the 4th quarter valued at approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in CSX by 219.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock valued at $34,000 after buying an additional 714 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CSX. Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a report on Thursday, April 17th. Benchmark reaffirmed a "buy" rating and set a $35.00 price objective on shares of CSX in a report on Thursday, April 17th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $35.00 price objective on shares of CSX in a report on Monday, June 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a report on Friday, March 7th. They set a "hold" rating and a $34.00 price objective for the company. Finally, UBS Group cut their price objective on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.14.
Read Our Latest Stock Report on CSX
CSX Stock Up 0.4%
Shares of CSX opened at $32.24 on Friday. The company has a market cap of $60.56 billion, a PE ratio of 19.31, a P/E/G ratio of 2.82 and a beta of 1.24. The business has a fifty day moving average of $30.08 and a 200 day moving average of $31.16. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10. 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 (NASDAQ:CSX - Get Free Report) last issued 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 the consensus estimate of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. On average, sell-side analysts expect that CSX Corporation will post 1.83 EPS for the current year.
CSX Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given 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 1.61%. CSX's dividend payout ratio is presently 31.14%.
CSX Company Profile
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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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