Stratos Wealth Partners LTD. Reduces Holdings in CSX Corporation (NASDAQ:CSX)

Stratos Wealth Partners LTD. reduced its position in CSX Corporation (NASDAQ:CSX - Free Report) by 40.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,312 shares of the transportation company's stock after selling 16,308 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in CSX were worth $716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX during the 4th quarter worth about $27,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX during the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX during the 4th quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of CSX during the 1st quarter worth about $30,000. Finally, Rossby Financial LCC acquired a new stake in shares of CSX during the 1st quarter worth about $28,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of a number of research reports. BMO Capital Markets lowered their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Baird R W upgraded CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group reiterated a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research report on Monday, June 2nd. UBS Group lowered their price objective on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $36.00 price objective (up from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.82.

CSX Stock Down 0.4%

Shares of NASDAQ:CSX traded down $0.13 during mid-day trading on Wednesday, hitting $33.35. 5,568,269 shares of the company traded hands, compared to its average volume of 13,392,042. The stock has a 50-day moving average price of $31.95 and a two-hundred day moving average price of $31.12. The stock has a market cap of $62.66 billion, a P/E ratio of 19.96, a P/E/G ratio of 3.04 and a beta of 1.23. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. On average, 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 disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders 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 of this dividend was Friday, May 30th. CSX's payout ratio is currently 31.14%.

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.