CSX Co. (NASDAQ:CSX) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 0.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 857,134 shares of the transportation company’s stock after selling 5,407 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in CSX were worth $31,774,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in CSX during the 4th quarter worth approximately $757,276,000. Price T Rowe Associates Inc. MD increased its stake in CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors increased its position in CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after buying an additional 5,041,679 shares in the last quarter. Lazard Asset Management LLC increased its position in CSX by 10.4% during the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after buying an additional 2,748,738 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in CSX by 43.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock worth $146,128,000 after buying an additional 1,446,685 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group reduced their price objective on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Royal Bank of Canada lowered their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Wells Fargo & Company began coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Finally, UBS Group cut their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research 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.com, the company has an average rating of “Moderate Buy” and an average target price of $37.59.

CSX Stock Up 0.1 %

CSX traded up $0.02 during trading on Thursday, hitting $33.03. The company had a trading volume of 14,252,710 shares, compared to its average volume of 11,959,551. The firm’s 50-day moving average price is $33.51 and its 200 day moving average price is $35.12. The company has a market capitalization of $64.57 billion, a PE ratio of 18.21, a PEG ratio of 1.69 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX Co. has a one year low of $29.03 and a one year high of $40.12.

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

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s dividend payout ratio is presently 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.