FORVIS Wealth Advisors LLC Sells 955 Shares of CSX Co. (NASDAQ:CSX)

FORVIS Wealth Advisors LLC cut its holdings in CSX Co. (NASDAQ:CSX) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,005 shares of the transportation company’s stock after selling 955 shares during the period. FORVIS Wealth Advisors LLC’s holdings in CSX were worth $3,485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Miracle Mile Advisors LLC grew its position in shares of CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after buying an additional 303 shares during the last quarter. High Net Worth Advisory Group LLC grew its position in shares of CSX by 1.7% in the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after buying an additional 304 shares during the last quarter. Stratos Wealth Advisors LLC grew its position in shares of CSX by 1.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after buying an additional 304 shares during the last quarter. Cornercap Investment Counsel Inc. grew its position in shares of CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after buying an additional 309 shares during the last quarter. Finally, FCA Corp TX grew its position in shares of CSX by 0.3% in the 4th quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock worth $4,007,000 after buying an additional 339 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

NASDAQ:CSX traded down $0.33 during trading hours on Friday, reaching $33.22. 470,511 shares of the company were exchanged, compared to its average volume of 11,832,192. 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 stock’s 50-day moving average is $33.41 and its 200-day moving average is $35.11. The firm has a market cap of $64.94 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

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

CSX Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Jefferies Financial Group dropped their target price 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. Susquehanna dropped their target price on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research report on Tuesday, June 25th. Bank of America dropped their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Royal Bank of Canada dropped 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 report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average 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.