Baker Tilly Wealth Management LLC Sells 3,543 Shares of CSX Co. (NASDAQ:CSX)

Baker Tilly Wealth Management LLC cut its holdings in CSX Co. (NASDAQ:CSX) by 26.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,947 shares of the transportation company’s stock after selling 3,543 shares during the period. Baker Tilly Wealth Management LLC’s holdings in CSX were worth $333,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after acquiring an additional 443,755 shares during the period. Capital International Investors increased its position in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. Fisher Asset Management LLC increased its position in shares of CSX by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after acquiring an additional 470,640 shares during the period. Norges Bank purchased a new position in shares of CSX during the fourth quarter valued at about $757,276,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CSX by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock valued at $388,922,000 after buying an additional 135,169 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of NASDAQ CSX traded down $0.21 during midday trading on Friday, reaching $33.42. The stock had a trading volume of 9,870,518 shares, compared to its average volume of 11,812,768. The stock has a 50-day moving average of $33.63 and a 200-day moving average of $34.96. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The company has a market capitalization of $65.33 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 earnings per share. As a group, research analysts anticipate that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.44%. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

CSX has been the topic of several research analyst reports. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Susquehanna upped their price objective on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. BMO Capital Markets restated an “outperform” rating and issued a $40.00 price objective on shares of CSX in a report on Tuesday, August 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

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.