Successful Portfolios LLC Has $473,000 Holdings in CSX Co. (NASDAQ:CSX)

Successful Portfolios LLC lowered its position in CSX Co. (NASDAQ:CSX) by 8.2% during the first quarter, Holdings Channel reports. The firm owned 12,765 shares of the transportation company’s stock after selling 1,137 shares during the period. Successful Portfolios LLC’s holdings in CSX were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in CSX in the fourth quarter valued at $27,000. Life Planning Partners Inc acquired a new position in shares of CSX in the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of CSX during the 1st quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in CSX during the fourth quarter worth approximately $34,000. Finally, Burkett Financial Services LLC acquired a new stake in CSX during the fourth quarter worth approximately $34,000. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSX. Royal Bank of Canada cut their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. UBS Group dropped their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Jefferies Financial Group cut their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company began coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. Finally, Bank of America cut their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.59.

CSX Price Performance

CSX stock opened at $33.45 on Monday. The firm has a market cap of $65.39 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.73 and a beta of 1.20. The firm’s fifty day moving average is $33.46 and its 200 day moving average is $35.14. CSX Co. has a 52 week low of $29.03 and a 52 week 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 announced its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s revenue was down .8% on a year-over-year basis. Research analysts predict that CSX Co. will post 1.96 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s payout ratio is 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.