CSX Co. (NASDAQ:CSX) Holdings Cut by Royal Fund Management LLC

Royal Fund Management LLC cut its stake in shares of CSX Co. (NASDAQ:CSX) by 10.7% in the 1st quarter, Holdings Channel reports. The firm owned 11,965 shares of the transportation company’s stock after selling 1,431 shares during the quarter. Royal Fund Management LLC’s holdings in CSX were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CSX. Fortitude Family Office LLC acquired a new stake in shares of CSX in the 4th quarter worth about $27,000. Life Planning Partners Inc bought a new position in CSX in the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $34,000. Burkett Financial Services LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $34,000. Finally, Avion Wealth boosted its position in shares of CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after buying an additional 820 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSX. Bank of America lowered their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Susquehanna upped their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Royal Bank of Canada lowered their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group reduced their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.82.

CSX Trading Up 0.3 %

Shares of NASDAQ:CSX traded up $0.10 during midday trading on Monday, reaching $33.51. The company had a trading volume of 470,707 shares, compared to its average volume of 11,838,601. The company has a fifty day simple moving average of $33.61 and a two-hundred day simple moving average of $35.14. The firm has a market cap of $65.51 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.72 and a beta of 1.19. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. Research analysts predict that CSX Co. will post 1.96 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

CSX 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.