Vanguard Group Inc. Sells 1,579,847 Shares of CSX Co. (NASDAQ:CSX)

Vanguard Group Inc. trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 0.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 174,951,636 shares of the transportation company’s stock after selling 1,579,847 shares during the quarter. Vanguard Group Inc. owned about 0.09% of CSX worth $6,065,573,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CSX. Fortitude Family Office LLC purchased a new stake in shares of CSX during the fourth quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new position in CSX in the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC bought a new position in CSX in the 4th quarter valued at $34,000. Burkett Financial Services LLC purchased a new stake in shares of CSX during the 4th quarter valued at $34,000. Finally, Avion Wealth raised its stake in shares of CSX by 450.5% during the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after purchasing an additional 820 shares during the period. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. UBS Group reduced their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus raised their price target on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Susquehanna upped their price objective on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group decreased their target price on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.82.

CSX Stock Up 1.3 %

CSX stock opened at $32.61 on Tuesday. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The firm has a market capitalization of $63.75 billion, a PE ratio of 17.92, a PEG ratio of 1.67 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The stock has a 50-day simple moving average of $33.80 and a two-hundred day simple moving average of $35.15.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. CSX’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts predict that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, May 31st. CSX’s payout ratio is 26.37%.

CSX Company 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.