Bangor Savings Bank Lowers Position in CSX Co. (NASDAQ:CSX)

Bangor Savings Bank trimmed its stake in CSX Co. (NASDAQ:CSX) by 30.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,291 shares of the transportation company’s stock after selling 4,500 shares during the quarter. Bangor Savings Bank’s holdings in CSX were worth $381,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CSX. Fortitude Family Office LLC acquired a new position in CSX during the fourth quarter valued at approximately $27,000. Life Planning Partners Inc acquired a new position in CSX during the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in CSX during the fourth quarter valued at approximately $34,000. Burkett Financial Services LLC acquired a new position in CSX during the fourth quarter valued at approximately $34,000. Finally, Avion Wealth lifted its position in CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after buying an additional 820 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $33.41 on Monday. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $65.31 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.72 and a beta of 1.19. The firm has a 50-day moving average of $33.61 and a two-hundred day moving average of $35.14.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.66 billion. During the same period in the prior year, the company earned $0.48 EPS. CSX’s revenue was down .8% on a year-over-year basis. As a group, analysts expect that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s payout ratio is 26.37%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CSX shares. UBS Group reduced their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Jefferies Financial Group cut their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada lowered their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Finally, Stifel Nicolaus boosted their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. 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 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.