Advisory Services Network LLC Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Advisory Services Network LLC lowered its holdings in shares of CSX Co. (NASDAQ:CSXGet Rating) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,186 shares of the transportation company’s stock after selling 1,645 shares during the quarter. Advisory Services Network LLC’s holdings in CSX were worth $3,078,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CSX. Life Planning Partners Inc purchased a new position in CSX during the 4th quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in CSX by 80.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 811 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 361 shares during the period. Core Alternative Capital boosted its holdings in CSX by 663.9% during the 1st quarter. Core Alternative Capital now owns 825 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 717 shares during the period. Bank of New Hampshire purchased a new position in CSX during the 1st quarter valued at $34,000. Finally, Rational Advisors LLC purchased a new stake in shares of CSX in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

CSX Stock Down 2.3 %

Shares of CSX stock opened at $29.49 on Friday. The stock’s 50-day simple moving average is $31.88 and its 200-day simple moving average is $32.78. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.01 and a current ratio of 1.16. The firm has a market capitalization of $63.15 billion, a PE ratio of 16.57, a P/E/G ratio of 1.63 and a beta of 1.21. CSX Co. has a fifty-two week low of $27.59 and a fifty-two week high of $38.63.

CSX (NASDAQ:CSXGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The transportation company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.67 billion. CSX had a return on equity of 29.07% and a net margin of 28.24%. The company’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. Equities analysts expect that CSX Co. will post 1.89 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Tuesday, August 30th. CSX’s dividend payout ratio is presently 22.47%.

Analysts Set New Price Targets

Several brokerages have weighed in on CSX. UBS Group lowered their target price on CSX to $38.00 in a report on Friday, July 22nd. Cowen lowered their target price on CSX from $39.00 to $37.00 and set a “market perform” rating for the company in a report on Thursday, July 21st. Raymond James lowered their target price on CSX from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, July 8th. Credit Suisse Group boosted their price target on CSX to $37.00 in a research report on Friday, July 22nd. Finally, Susquehanna reduced their price target on CSX from $36.00 to $35.00 in a research report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.33.

About CSX

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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 transports chemicals, agricultural and food products, automotive, minerals, 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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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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