CSX Corporation (NASDAQ:CSX) Shares Sold by Trust Point Inc.

Trust Point Inc. trimmed its stake in shares of CSX Corporation (NASDAQ:CSX) by 37.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 8,607 shares of the transportation company’s stock after selling 5,115 shares during the quarter. Trust Point Inc.’s holdings in CSX were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CSX. Portside Wealth Group LLC lifted its stake in CSX by 1.3% in the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company’s stock valued at $804,000 after buying an additional 361 shares in the last quarter. Ullmann Wealth Partners Group LLC raised its holdings in shares of CSX by 1.3% during the first quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company’s stock valued at $862,000 after acquiring an additional 363 shares during the last quarter. Family Legacy Inc. raised its holdings in shares of CSX by 0.6% during the fourth quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company’s stock valued at $2,190,000 after acquiring an additional 375 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in shares of CSX by 1.2% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company’s stock valued at $948,000 after acquiring an additional 378 shares in the last quarter. Finally, Faithward Advisors LLC boosted its stake in shares of CSX by 1.7% in the fourth quarter. Faithward Advisors LLC now owns 23,841 shares of the transportation company’s stock worth $769,000 after acquiring an additional 392 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CSX. Argus set a $32.00 price objective on CSX in a research note on Friday, April 25th. Stifel Nicolaus reduced their target price on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 14th. BMO Capital Markets decreased their price target on shares of CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Finally, Evercore ISI cut their price objective on shares of CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.14.

CSX Stock Performance

Shares of CSX stock opened at $32.12 on Wednesday. The firm has a market cap of $60.34 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The business’s fifty day simple moving average is $29.92 and its 200-day simple moving average is $31.18.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. Equities analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.62%. CSX’s payout ratio is currently 31.14%.

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.