HBK Sorce Advisory LLC Sells 1,018 Shares of CSX Co. (NASDAQ:CSX)

HBK Sorce Advisory LLC trimmed its position in CSX Co. (NASDAQ:CSX) by 6.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 14,865 shares of the transportation company’s stock after selling 1,018 shares during the quarter. HBK Sorce Advisory LLC’s holdings in CSX were worth $497,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MFA Wealth Advisors LLC bought a new stake in shares of CSX during the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in CSX in the 1st quarter valued at $29,000. Strategic Financial Concepts LLC bought a new stake in CSX during the 2nd quarter valued at $33,000. Burkett Financial Services LLC acquired a new position in CSX during the fourth quarter worth $34,000. Finally, Tortoise Investment Management LLC acquired a new position in CSX during the fourth quarter worth $35,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Up 0.2 %

Shares of CSX stock opened at $33.52 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm has a market cap of $65.53 billion, a P/E ratio of 18.42, a PEG ratio of 1.77 and a beta of 1.19. The company has a 50 day moving average of $33.91 and a 200-day moving average of $34.50. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts anticipate that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. CSX’s dividend payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CSX. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. Susquehanna boosted their price objective on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday, July 8th. Finally, Evercore ISI upgraded CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.80.

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.