SeaCrest Wealth Management LLC Sells 20,470 Shares of CSX Co. (NASDAQ:CSX)

SeaCrest Wealth Management LLC lowered its position in CSX Co. (NASDAQ:CSX) by 67.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,768 shares of the transportation company’s stock after selling 20,470 shares during the period. SeaCrest Wealth Management LLC’s holdings in CSX were worth $362,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CSX. Price T Rowe Associates Inc. MD increased its holdings in CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors increased its holdings in CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Morgan Stanley increased its holdings in CSX by 3.1% during the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares in the last quarter. Fisher Asset Management LLC increased its holdings in CSX by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock worth $775,855,000 after purchasing an additional 470,640 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of CSX during the 4th quarter worth about $757,276,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $33.55 on Thursday. The stock has a market capitalization of $65.59 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. The company’s 50-day moving average is $33.42 and its 200-day moving average is $35.13. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last posted 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 firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the business posted $0.48 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts expect that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSX. UBS Group reduced their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Susquehanna reduced their price objective on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research note on Tuesday, June 25th. Stifel Nicolaus increased their price objective 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. Bank of America reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

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.